The Status

“The Motor Carrier Protection Act of 2010” - S.3483 was introduced by Senators Olympia Snowe (R-Maine) and Amy Klobuchar (D-Minn.). OOIDA worked closely with the senators to develop S.3483 and supports the legislation.

The “Motor Carrier Protection Act of 2010” will:

• Increase the broker bond from $10,000 to $100,000 and expands that bond requirement to freight forwarders. Also, requires the Federal Motor Carrier Safety Administration (FMCSA) to immediately suspend the operating authority for any freight broker or freight forwarder whose bond coverage falls below $100,000.
• Increase requirements and disclosures for any person or company seeking to obtain broker or freight forwarder authority as well as makes information about entities seeking operating authority available on-line for public review.
• Establish significant penalties for violations of broker regulations including unlimited liability for freight charges for conducting brokerage activities without a license or bond.
• Create a requirement for brokers and freight forwarders to renew their operating authority annually and requires FMCSA to revoke operating authority that is not renewed annually.  Revenue generated from the renewal fees will be dedicated to FMCSA’s oversight and enforcement of broker regulations.
• Establish strict guidelines on companies who provide brokers with surety bonds and on how they administer those bonds.
• Clarify that trucking companies must have a broker’s or freight forwarder’s license and an appropriate bond in addition to their motor carrier operating authority to arrange freight for another carrier for compensation.

The link to view S.3483 is - http://www.ooida.com/Issues&Actions/Legislative/pdfs/S3483-111th.pdf