§ 307. Fare changes. 1. In the event it appears at any time to a
railroad redevelopment corporation that its operating revenues and other
income will not be sufficient during the forthcoming twelve months to
provide for the items enumerated in section three hundred six, such
corporation may make application to the commissioner of transportation
for such changes in its passenger fares and charges (and the
classifications, regulations, and practices pertaining thereto) as will,
in the opinion of such corporation, produce sufficient additional
revenues to enable it to provide for such items.

2. Such application shall be filed and determined in the manner
provided in the transportation law, and shall be accompanied by a
certificate of such corporation setting out:

(a) the name of such railroad redevelopment corporation;

(b) the date upon which it qualified under this article;

(c) that the qualification of such railroad redevelopment corporation
has not been terminated;

(d) the basis upon which such corporation has determined that its
revenues and other income during said forthcoming twelve months will not
be sufficient to provide for the items enumerated in section three
hundred six; and

(e) the basis upon which such corporation has determined that such
changes will produce the additional revenues required to provide for
said items.