SB 51: "An Act relating to legislative approval of the acquisition of land by the Alaska Railroad Corporation."

00 SENATE BILL NO. 51 01 "An Act relating to legislative approval of the acquisition of land by the Alaska Railroad 02 Corporation." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 42.40.285 is amended to read: 05 Sec. 42.40.285. Legislative approval required. Unless the legislature 06 approves the action by law, the corporation may not 07 (1) exchange, donate, sell, or otherwise convey its entire interest in 08 land; 09 (2) issue bonds; 10 (3) extend railroad lines; this paragraph does not apply to a spur, 11 industrial, team, switching, or side track; 12 (4) lease land for a period in excess of 35 years unless the corporation 13 reserves the right to terminate the lease if the land is needed for railroad purposes; 14 (5) notwithstanding AS 42.40.250(7), (9), and (13) and

01 AS 42.40.360 - 42.40.435, acquire land or an interest in land by purchase, lease, 02 transfer, gift, grant, devise, exchange, eminent domain, adverse possession, or 03 other means [APPLY FOR OR ACCEPT A GRANT OF FEDERAL LAND 04 WITHIN A MUNICIPALITY; BEFORE APPROVING AN ACTION UNDER THIS 05 PARAGRAPH, THE LEGISLATURE MUST DETERMINE THAT THE FEDERAL 06 LAND IS REQUIRED FOR ESSENTIAL RAILROAD PURPOSES]; this paragraph 07 does not apply to the acquisition [APPLICATION FOR OR ACCEPTANCE OF A 08 GRANT] of federal land or an interest in federal land associated with 09 (A) the Anchorage-Wasilla line change project on Elmendorf 10 Air Force Base and Fort Richardson; 11 (B) the Fairbanks intermodal rail yard expansion project; 12 (C) a conveyance of rail properties of the Alaska Railroad 13 under the original Alaska Railroad Transfer Act of 1982 as set out in Title VI, 14 P.L. 97-468; in this subparagraph, "rail properties of the Alaska Railroad" has 15 the meaning given in 45 U.S.C. 1202(10).