New York Laws
Article 7 - Railroad Redevelopment Corporations
306 - Rates, Fares, and Charges.

(1) Operating expenses, except (a) accruals and charges for
depreciation, amortization, and retirements, and (b) expenses incurred
as costs of the improvement and rehabilitation program of such
corporation specified in its certificate of approval;
(2) Railway tax accruals;
(3) Equipment and joint facility rents;
(4) Miscellaneous deductions from income;
(5) Rent for leased roads and equipment;
(6) Interest and principal payments on equipment obligations
outstanding at the time of its qualification as a railroad redevelopment
corporation, and such other deductions and such other payments on its
indebtedness and stock as are not prohibited by its certificate of
approval;
(7) Expenditures in connection with grade crossing elimination
projects, including interest and principal payments on obligations
incurred for such purpose before or after the time of its qualification
as a railroad redevelopment corporation;
(8) Expenditures for grade crossing protection; bridge construction,
reconstruction, and replacement; and similar projects;
(9) The amount, determined by proration if necessary, specified in
such corporation's certificate of approval as required in that
twelve-month period to pay the costs of such improvement and
rehabilitation program; and
(10) The amount of any net deficiency theretofore incurred during its
existence as a railroad redevelopment corporation in the aggregate
amount required to provide for items (1) through (9).