NY S03932

Creates the Corinth and Warren Railroad Authority as a public benefit corporation with a 30-year term to manage a 56-mile railroad line running from North Creek in Warren County to Saratoga Springs in Saratoga County

Authority consists of 6 voting members: 3 appointed by Warren County and 3 appointed by the Town of Corinth, all residents of their respective jurisdictions, serving staggered 3-year terms

Grants authority broad powers to acquire, operate, maintain, and improve railroad facilities; establish fares and schedules; and enter into service agreements with carriers and other entities for freight, passenger, and tourist train operations

Exempts authority from most state and local taxes on property and operations, except real property taxes on certain railroad tracks and property in Saratoga County, and allows voluntary payments to municipalities

Establishes that authority obligations are not debts of the state, county, or town; provides immunity from liability for members and officials acting within scope of authority; and subjects authority to annual audits by the State Comptroller