- (a) The Director establishes base pilotage rates by a full ratemaking pursuant to § 404.101-404.110 of this part, conducted at least once every 5 years and completed by March 1 of the first year for which the base rates will be in effect. Base rates will be set to meet the goal specified in § 404.1(a) of this part.
(b) In the interim years preceding the next scheduled full rate review, the Director will review the existing rates to ensure that they continue to meet the goal specified in § 404.1(a) of this part. If interim-year adjustments are needed, they will be set according to one of the following procedures, selected as the Director deems best suited to adjust the rates to meet that goal -
- (1) Automatic annual adjustments, set during the previous full rate review in anticipation of economic trends over the term of the rates set by that review;
- (2) Annual adjustments reflecting consumer price changes as documented in the U.S. Bureau of Labor Statistics Midwest Region Consumer Price Index (CPI-U); or
- (3) A new full ratemaking.
[USCG-2015-0497, 81 FR 11941, Mar. 7, 2016, as amended by USCG-2016-0268, 82 FR 41495, Aug. 31, 2017; 82 FR 43864, Sept. 20, 2017]