HB2187 Summary

• Establishes procedures for the Department of Transportation to sell railroads, rights-of-way, and railroad tracks currently leased to or operated by private entities through open, competitive public sale.

• Requires at least 90 days' public notice before sale via the Office of Management and Enterprise Services website, newspaper advertisement for two weeks, and certified mail to all operating railroads in the state.

• Grants the current lessee or operator a right of first refusal to purchase on the same terms as the highest responsive bid within 90 days of receiving the offer.

• Requires bid deposits of 5% of the bid value in the form of bid bonds, cash, certified checks, or treasurer's/cashier's checks; selected bidder must execute sale agreement within 60 days or forfeit deposit.

• Declares an emergency effective upon passage and approval.