What 29 CFR 1926.1426 requires (plain English)
29 CFR 1926.1426 governs "free fall and controlled load lowering" on cranes. Free fall is when the boom or the load descends by gravity, the brake is released and it drops, rather than being lowered under power through the hoist mechanism. Free-fall (or "live boom") capability exists on some cranes, particularly older friction machines, and is faster but far less controllable than powered lowering.
The section prohibits the use of equipment in which the boom is designed to free fall (a live boom) in each of several specified circumstances, including where an employee is in the fall zone of the boom or load, where employees are being hoisted (personnel lifting), where the crane is being used near power lines, and in other high-consequence situations. The idea is that where a loss of control would be catastrophic, the boom must be under powered control, not free-falling.
1926.1426 also addresses load-line free fall and controlled load lowering, restricting when the load line may free fall and requiring that certain lowering be done under power. Together these rules ensure that in the dangerous situations (over people, hoisting personnel, near energized lines) the crane's boom and load are lowered in a controlled, powered manner rather than dropped by gravity.