AK SB111

Authorizes transfer of land along the Alaska Railroad Corporation's Eielson Spur Line from the State of Alaska and Alaska Railroad Corporation to abutting property owners.

Land reverts to abutting landowners if discontinuance is signaled by governor's notice with legal description and quitclaim deed, or if no use occurs for a continuous 18-year period for transportation, communication, or transmission purposes.

Upon reversion after 18 years of non-use, the State and Alaska Railroad Corporation must convey all rights and interests by quitclaim deed to abutting landowners upon request, with each owner's property extending to the centerline of the right-of-way.

Replaces reversionary rights of abutting landowners that were eliminated by the 2003 federal repeal of reversion language in the Alaska Railroad Transfer Act.

Takes effect immediately upon enactment.