AK HB171

Alaska Railroad Corporation is authorized to convey approximately 1.93 acres of rail land in the Alaska Railroad Anchorage Terminal Reserve to the Municipality of Anchorage for residential subdivision redevelopment.

Alaska Railroad Corporation is authorized to convey approximately 0.18 acres of rail land in the Alaska Railroad Anchorage Terminal Reserve to the Municipality of Anchorage to enable safe and reasonable access to Government Hill Elementary School.

This legislation constitutes the required legislative approval under AS 42.40.285(1) for the corporation to convey its interest in the described land.

Alaska Railroad Corporation may accept fee simple title to land of approximate equivalent fair market value or a combination of land and cash to equalize the value of transferred assets, and shall manage any land received from Anchorage in accordance with AS 42.40.

Act takes effect immediately upon enactment.