NC H1086

Establishes the South Carolina and North Carolina Interstate Freight Rail Compact Commission to coordinate freight rail service development and operation between the two states, specifically connecting Mullins, SC to Fair Bluff and Tabor City, NC, with branch service to Whiteville, NC and Conway, SC.

Commission comprises four North Carolina members appointed by the General Assembly leadership, the NC Railroad Company Board, and the NC Secretary of Commerce, with two-year terms expiring June 30, 2017; South Carolina membership determined by South Carolina law.

Commission shall meet at least twice yearly (at least once in each state) and issue annual activity reports by September 30; chair position rotates between states annually.

Authorizes the Commission to operate as a nonprofit 501(c)(3) or 501(c)(6) organization and acquire, hold, lease, license, or transfer ownership of railroad lines and related assets to promote economic development in Columbus County, NC and Marion and Horry Counties, SC.

Effective upon approval by both state legislatures and, if required, approval by the U.S. Congress; became law September 20, 2014, without gubernatorial signature.