AN ACT relating to railroads and making an appropriation therefor.
     Create a new section of KRS Chapter 277 to establish the state rail bank fund; define terms for the chapter; allow the Transportation Cabinet to acquire all or part of any abandoned rail line or right-of-way proposed for abandonment by purchase or gift; outline the eligibility criteria for the acquisition of an existing rail line or right-of-way or an abandoned rail line or right-of-way; require an environmental audit of property proposed for acquisition; allow the Transportation Cabinet to accept the donation of an abandoned rail line or right-of-way from a railroad company; require that all donated rail lines and rights-of-way be held in the state rail bank fund; require the Transportation Cabinet to provide for the maintenance of any rail line or right-of-way in the state rail bank; allow the Transportation Cabinet to sell or lease any rail line or right-of-way held in the state rail bank; require the Transportation Cabinet to retain a possibility of reverter to revert property back to the state rail bank if the purchaser or lessee abandons or uses the property for any purpose other than the operation of rail services; allow the Transportation Cabinet to convey a portion of acquired rail bank rights-of-way to a state agency or governmental subdivision; allow the Transportation Cabinet to lease acquired rail bank rights-of-way to a state agency or private entity; require that all proceeds from the sale or lease of rail lines and rights-of-way in the state rail fund be deposited in the state rail bank fund.

     Jan 15-introduced in House
     Jan 17-to Transportation (H)