MS HB1519

Authorizes any Mississippi town with a short-line railroad partially within its corporate limits to acquire, restore, construct, own, operate, and dispose of that railroad through its governing body.

Defines "short-line railroad" as a rail line no more than 50 total route miles in length that qualifies as a Class III rail carrier under federal Surface Transportation Board standards.

Grants towns broad powers to enter into agreements with third parties for project management, construction, maintenance, and operation of short-line railroads, including projects located outside the town or state.

Allows towns to employ personnel, accept grants and loans from public and private sources, and bind successor boards for up to 20 years regarding projects funded by state, federal, or other grants or loans.

Declares short-line railroad projects to be public purposes for the public benefit and exempts town-owned property related to such projects from all state taxation.