BILL AS INTRODUCED S.85
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VT LEG #380570 v.1
S.85 1
Introduced by Senator Harrison 2
Referred to Committee on 3
Date: 4
Subject: Surface transportation; State acquisition of railroads; leases; 5
extensions; approval 6
Statement of purpose of bill as introduced: This bill proposes to require that 7
all extensions for leases of State-owned railroad property shall be approved by 8
the General Assembly. 9
An act relating to approval of railroad lease extensions 10
It is hereby enacted by the General Assembly of the State of Vermont: 11
Sec. 1. 5 V.S.A. § 3405 is amended to read: 12
§ 3405. LEASE FOR CONTINUED OPERATION 13
(a) The Secretary, as agent for the State, with the approval of the General 14
Assembly, or if the General Assembly is not in session, approval of the Joint 15
Transportation Oversight Committee, is authorized to lease or otherwise 16
arrange for the continued operation of all or any State-owned railroad property 17
to any responsible person, provided that approval for the operation, if 18
necessary, is granted by the federal Surface Transportation Board under 49 19
C.F.R. Part 1150 (certificate to construct, acquire, or operate railroad lines). 20 BILL AS INTRODUCED S.85
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VT LEG #380570 v.1
The transaction shall be subject to any further terms and conditions as in the 1
opinion of the Secretary are necessary and appropriate to accomplish the 2
purpose of this chapter. 3
(b) To preserve continuity of service on State-owned railroads, the 4
Secretary may enter into a short-term lease or operating agreement, for a term 5
not to exceed six months, with a responsible railroad operator. The Secretary 6
shall notify the House and Senate Committees on Transportation within 10 7
calendar days after entering into any lease or agreement pursuant to this 8
subsection. 9
(c) The Secretary shall notify the House and Senate Committees on 10
Transportation or, if the General Assembly is not in session, the Joint 11
Transportation Oversight Committee when there are 12 months remaining on 12
the operating lease for any State-owned railroad, and when there are 12 months 13
remaining on a lease extension for the operating lease for any State-owned 14
railroad. 15
Sec. 2. EFFECTIVE DATE 16
This act shall take effect on passage. 17