Providing for the commissioner of transportation (DOT) to plan, design, acquire, construct, equip, own, operate and maintain high speed rail facilities; specifying certain duties of the commissioner and authorizing the commissioner to enter into a memorandum of understanding or cost sharing agreement with public or private entities or with other states to carry out the requirements and to use the best value method of procurement to obtain equipment, materials and services for the facilities; specifying certain rail system bus and light rail transit (LRT) and commuter rail service integration requirements; authorizing the commissioner to contract for operation of the facilities with public or private entities; requiring revenue from the high speed rail operation to be dedicated to maintenance and improvement of the service; authorizing the commissioner to apply for funding from various sources; repealing a certain provision requiring the commissioner to notify the legislature of the expenditure of state funds to study high speed intercity passenger rail service (mk)