SB 123: "An Act relating to legislative approval for the design and construction of facilities of the Alaska Railroad Corporation."

00 SENATE BILL NO. 123 01 "An Act relating to legislative approval for the design and construction of facilities of 02 the Alaska Railroad 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) apply for or accept a grant of federal land within a municipality;

01 before approving an action under this paragraph, the legislature must determine that 02 the federal land is required for essential railroad purposes; this paragraph does not 03 apply to the application for or acceptance of a grant of federal land associated with 04 (A) the Anchorage-Wasilla line change project on Elmendorf 05 Air Force Base and Fort Richardson; 06 (B) the Fairbanks intermodal rail yard expansion project; 07 (C) a conveyance of rail properties of the Alaska Railroad 08 under the original Alaska Railroad Transfer Act of 1982 as set out in Title VI, 09 P.L. 97-468; in this subparagraph, "rail properties of the Alaska Railroad" has 10 the meaning given in 45 U.S.C. 1202(10); 11 (6) begin the design or construction of a facility, other than a 12 railroad line, having an estimated total design and construction cost greater than 13 $5,000,000.