HF 2984

as introduced - 91st Legislature (2019 - 2020) Posted on 02/11/2020 03:38pm

A bill for an act
relating to transportation; requiring short-line and regional railroad carrier
disclosures; proposing coding for new law in Minnesota Statutes, chapter 222.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

new text begin [222.455] SHORT-LINE AND REGIONAL RAILROAD CARRIER
DISCLOSURES REQUIRED.
new text end

new text begin (a) To be eligible to receive funding through appropriations, loans, grants, loan or grant
forgiveness, or capital bonding under sections 222.49; 222.50, subdivision 7; 222.55; 222.57;
or 222.63, subdivision 8, a Class III short-line or regional railroad carrier must disclose to
the commissioner of transportation the following:
new text end

new text begin (1) class of ownership reported to the United States Surface Transportation Board;
new text end

new text begin (2) all persons, business partnerships, cooperatives, ownership partners, or any other
entity with an ownership stake in the carrier;
new text end

new text begin (3) whether the carrier is subject to ownership by a third-party rail carrier or holding
company, a subsidiary or a third-party short-line or regional railroad carrier in Minnesota
or another state, or owned in conjunction with another common partnership or corporation;
new text end

new text begin (4) the state or province in which owners are located or incorporated;
new text end

new text begin (5) total miles of track operated or subject to operation by the carrier;
new text end

new text begin (6) total number of revenue car movements by the carrier during the previous two calendar
years;
new text end

new text begin (7) annual total gross revenue;
new text end

new text begin (8) annual total assessed value of motive power and nonleased rolling stock;
new text end

new text begin (9) total annual investment in track, track structure, and general physical plant
maintenance on all properties;
new text end

new text begin (10) total compensation of the carrier's top three officers, owners, or equity investors;
new text end

new text begin (11) total net profit and all dividends paid to owners, investor groups, or cooperatives;
new text end

new text begin (12) for operating, track, and signal employees, the total number of employees, average
hourly wage, and health care cost per employee;
new text end

new text begin (13) whether the carrier's employees and employers contribute monthly tax payments
to the United States Railroad Retirement Board and disability benefits program; and
new text end

new text begin (14) whether the carrier is self-insured or insured by a third party.
new text end

new text begin (b) Museum railroad carriers, port authorities, economic development applicants, and
municipal industrial park development applicants with Class I railroad carriers are exempt
from the disclosure requirements in this section.
new text end