VT S0260

Requires General Assembly approval for any new lease or renewal of existing leases for continued operation of State-owned railroad rights-of-way; if the legislature is not in session, the Joint Transportation Oversight Committee may grant approval

Allows the Secretary of Transportation to enter short-term leases or operating agreements (maximum 6 months) without legislative approval to preserve service continuity, but must notify House and Senate Transportation Committees within 10 calendar days

Mandates the Secretary notify Transportation Committees (or Joint Transportation Oversight Committee if legislature is out of session) when 12 months remain on any State-owned railroad operating lease or lease extension

Amends 5 V.S.A. § 3405 governing leases of State-owned railroad property

Takes effect July 1, 2026