1. (1) The commission shall by rule or regulation establish standards and procedures to be used in determining whether certain transportation provided by a rail carrier in this state should be exempted, in whole or in part, from one or more provisions of this title. Such rules and regulations shall provide for such exemption when the commission finds that:

   1. (a) Jurisdiction, regulation, and control by the commission are not necessary to carry out the transportation policy of this title; and
   2. (b) Either the transaction or service is of limited scope or the application of a provision of this title is not needed to protect shippers from the abuse of market power.

Source: L. 84: Entire section added, p. 1036, § 1, effective July 1.