NC H174

Strengthens oversight and reporting requirements for the North Carolina Railroad Company, including mandatory strategic and capital investment plans, performance management systems, and comprehensive annual reports to legislative committees.

Requires a one-time cash dividend of $15,500,000 from the North Carolina Railroad Company to the Repairs and Renovations Reserve Account by June 30, 2013.

Establishes an annual cash dividend requirement equal to 25% of the company's income from trackage rights agreements, due by January 15 each year, effective January 1, 2014.

Mandates the transfer of specified non-corridor real properties (including parcels in Alamance, Carteret, Craven, Lenoir, Wake, and Wayne counties) to the State as a dividend, with net proceeds from their sale to go to the Repairs and Renovations Reserve Account.

Expands the Board of Directors to 13 members with appointment authority divided between the Governor (7 members) and General Assembly leadership (6 members), and requires detailed disclosure of board member compensation, ethics policies, and related-party transactions.