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MI SB1220
Bill
AI Summary
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Requires railroad companies to reimburse the state department for expenditures made to maintain, improve, or upgrade rail lines while the department owned them.
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Reimbursement obligation applies only if the department sold the rail line to the railroad company and the company demonstrated an intention to abandon the line.
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Requires railroad companies to pay the department any proceeds received from salvaging the rail line in transactions covered under the reimbursement requirement.
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Amends the State Transportation Preservation Act of 1976 by adding section 10h.
Legislative Description
Transportation; railroads; reimbursement for state expenditures to maintain or upgrade certain railroads purchased by the state and sold back to a railroad; require. Amends 1976 PA 295 (MCL 474.51 - 474.70) by adding sec. 10h.
Transportation, funds
Last Action
Referred To Committee On Transportation
3/10/2010