SF 3829

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:

Section 1.

[222.455] SHORT-LINE AND REGIONAL RAILROAD CARRIER
DISCLOSURES REQUIRED.

(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:

(1) class of ownership reported to the United States Surface Transportation Board;

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

(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;

(4) the state or province in which owners are located or incorporated;

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

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

(7) annual total gross revenue;

(8) annual total assessed value of motive power and nonleased rolling stock;

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

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

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

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

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

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

(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.