A bill to amend section 303(b) of the Interstate Commerce Act to remove certain restrictions upon the application and scope of the exemption provided therein, and for other purposes.

Removes the qualification for exemptions under the waters carriers part of the Interstate Commerce Act, that applies to bulk commodities shipped in vessels carrying not more than three such commodities, and that states that the exemption shall not be lost by the concurrent transportation in the same vessel of other commodities.

Repeals the amendment requiring that the Secretary of Transportation study the economic regulation of dry bulk commodity transportation.