MS HB228

Authorizes the State Bond Commission to issue bonds for acquiring railroads in Mississippi upon receiving a resolution from the Mississippi Department of Transportation.

Bonds issued are limited obligations payable solely from railroad operation revenues, with no liability against the state's general credit or taxing power.

Allows bonds with maturities up to 40 years and permits the department to acquire railroads through purchase, construction, or condemnation when common carriers decline to provide facilities within 6 months of request.

Requires the department to maintain separate financial records for railroad acquisitions and obtain commission approval following investigation before proceeding with any acquisition.

Transfers railroad regulatory powers from the Public Service Commission to the Mississippi Transportation Commission and provides procedures for responding to railroad abandonment notices from the Surface Transportation Board.