as introduced - 91st Legislature (2019 - 2020) Posted on 03/03/2020 09:15am
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:
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(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:
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(1) class of ownership reported to the United States Surface Transportation Board;
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(2) all persons, business partnerships, cooperatives, ownership partners, or any other
entity with an ownership stake in the carrier;
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(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;
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(4) the state or province in which owners are located or incorporated;
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(5) total miles of track operated or subject to operation by the carrier;
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(6) total number of revenue car movements by the carrier during the previous two calendar
years;
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(7) annual total gross revenue;
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(8) annual total assessed value of motive power and nonleased rolling stock;
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(9) total annual investment in track, track structure, and general physical plant
maintenance on all properties;
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(10) total compensation of the carrier's top three officers, owners, or equity investors;
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(11) total net profit and all dividends paid to owners, investor groups, or cooperatives;
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(12) for operating, track, and signal employees, the total number of employees, average
hourly wage, and health care cost per employee;
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(13) whether the carrier's employees and employers contribute monthly tax payments
to the United States Railroad Retirement Board and disability benefits program; and
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(14) whether the carrier is self-insured or insured by a third party.
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(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.
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