CSHB 55(TRA): "An Act relating to the fiscal operations of the Alaska Railroad Corporation; and providing for an effective date."
00CS FOR HOUSE BILL NO. 55(TRA) 01 "An Act relating to the fiscal operations of the Alaska Railroad Corporation; and 02 providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. Section 1(b), ch. 153, SLA 1984, is amended to read: 05 (b) It is the purpose of this Act to 06 (1) create a viable economic entity with the powers and duties 07 necessary to operate and manage the Alaska Railroad pending eventual transfer of the 08 railroad to the private sector for its ownership or operation or both consistent with 09 45 U.S.C. 1201 - 1214 (Alaska Railroad Transfer Act of 1982); 10 (2) provide for the level of transportation service that best satisfies the 11 needs of the people of the state consistent with the other findings and policies of this 12 section; 13 (3) create a public corporation with the powers, duties, and functions 14 needed to operate the Alaska Railroad and manage its rail, industrial, port, and other
01 properties in the best interest of the people of the state by ensuring that the corporation 02 will 03 (A) be [EXCLUSIVELY] responsible for the management of 04 the financial and legal obligations of the Alaska Railroad; 05 (B) operate the railroad as a common carrier subject to the 06 jurisdiction of the United States Interstate Commerce Commission consistent 07 with 45 U.S.C. 1207; 08 (C) have the ability to raise capital by issuing bonds upon 09 approval of the legislature exempt from federal and state taxation and applying 10 for federal money to which the state may be entitled or that may be available; 11 (D) carry out its responsibilities on a self-sustaining basis; 12 (E) provide the best possible combination of types and levels 13 of safe, efficient, and economical transportation to meet the overall needs of 14 the state, supported when necessary by state investment; 15 (F) provide for the prudent operation of the railroad according 16 to sound business management practices; [AND] 17 (G) preserve the integrity of the railroad utility corridor for 18 transportation, communication, and transmission purposes; and 19 (H) be subject to AS 37.07 (Executive Budget Act) and be 20 responsible for the operating, capital, and debt service expenditures of the 21 corporation in accordance with appropriations made by the legislature; 22 (4) ensure that borrowing by the corporation does not directly or 23 indirectly endanger the state's own borrowing capacity. 24 * Sec. 2. AS 37.07.120(1) is amended to read: 25 (1) "agency" means a department, officer, institution, board, 26 commission, bureau, division, or other administrative unit forming the state 27 government and includes the Alaska Railroad Corporation, Alaska Pioneers' Home, 28 and the University of Alaska, but does not include the legislature or the judiciary; 29 * Sec. 3. AS 42.40.100 is amended to read: 30 Sec. 42.40.100. Management by the board. The board is responsible for the 31 management of the corporation but shall delegate certain powers and duties to the chief
01 executive officer in accordance with AS 42.40.120. In managing the corporation, the 02 board shall 03 (1) be responsible for the management of the financial and legal 04 obligations of the Alaska Railroad; 05 (2) operate the Alaska Railroad as a common carrier subject to the 06 jurisdiction of the United States Interstate Commerce Commission consistent with 45 07 U.S.C. 1207; 08 (3) generally manage the corporation on a self-sustaining basis; 09 (4) in accordance with AS 37.07, apply to the legislature for an 10 appropriation with the concurrence of the governor to be used to 11 (A) fund the operating, capital, and debt service 12 expenditures of the corporation; and 13 (B) when necessary, provide a particular service that is not 14 otherwise self-sustaining if a subsidy is required to maintain that service; 15 (5) provide for safe, efficient, and economical transportation to meet 16 the overall needs of the state; 17 (6) raise needed capital by issuing bonds of the corporation upon 18 approval by the legislature while ensuring that borrowing by the corporation does not 19 directly or indirectly endanger the state's own borrowing capacity; 20 (7) review all state and other land disposal proposals to aid in planning 21 for future development or expansion of transportation services; 22 (8) ensure that the procurement procedures of the corporation meet 23 accepted railroad industry standards; 24 (9) ensure that the accounting procedures of the corporation meet 25 generally accepted accounting principles consistent with industry standards for 26 comparable railroads. 27 * Sec. 4. AS 42.40.540 is amended to read: 28 Sec. 42.40.540. Appropriations. The corporation shall [MAY] request, in 29 accordance with AS 37.07, appropriations [THE CONCURRENCE OF THE 30 GOVERNOR, A DIRECT APPROPRIATION OR GRANT] from the legislature to 31 carry [ASSIST IN CARRYING] out the provisions of this chapter.
01 * Sec. 5. AS 42.40.920(b) is amended to read: 02 (b) Unless specifically provided otherwise in this chapter, the following laws 03 do not apply to the operations of the corporation: 04 (1) AS 19; 05 (2) AS 30.15; 06 (3) AS 35; 07 (4) AS 36.30, except as specifically provided in that chapter; 08 (5) AS 37.05; 09 (6) [AS 37.07; 10 (7)] AS 37.10.010 - 37.10.060; 11 (7) [(8)] AS 37.10.085; 12 (8) [(9)] AS 37.20; 13 (9) [(10) AS 37.25; 14 (11)] AS 38; 15 (10) [(12)] AS 44.62.010 - 44.62.320. 16 * Sec. 6. PREPARATION OF FIRST ANNUAL BUDGET UNDER AS 37.07. The 17 Alaska Railroad Corporation shall prepare its first agency program and financial plan under 18 AS 37.07 for consideration by the governor in the development of the governor's 19 recommended operating and capital improvements programs and financial plans that are 20 submitted to the legislature at the next regular session of the legislature that convenes 21 following the effective date of this Act. 22 * Sec. 7. This Act takes effect immediately under AS 01.10.070(c).