Text: SF02416 Text: SF02418 Text: SF02400 - SF02499 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. NEW SECTION. 327H.20A RAILROAD REVOLVING LOAN
1 2 FUND.
1 3 A railroad revolving loan fund is established in the office
1 4 of the treasurer of state under the control of the department.
1 5 Moneys in this fund shall be expended for loans to provide
1 6 assistance for the restoration, conservation, improvement, and
1 7 construction of railroad main lines, branch lines, switching
1 8 yards, sidings, rail connections, intermodal yards, highway
1 9 grade separations, and other railroad-related improvements.
1 10 The department shall administer a program for the granting and
1 11 administration of loans under this section. The department
1 12 may enter into agreements with railroad corporations, the
1 13 United States government, cities, counties, and other persons
1 14 for carrying out the purposes of this section. Moneys
1 15 received as loan repayments shall be credited to the railroad
1 16 revolving loan fund. Notwithstanding section 8.33, moneys in
1 17 the railroad revolving loan fund shall not revert to the
1 18 general fund of the state but shall remain available
1 19 indefinitely for expenditure under this section.
1 20 Sec. 2. There is appropriated from the general fund of the
1 21 state to the department of transportation for the fiscal year
1 22 beginning July 1, 1998, and ending June 30, 1999, for deposit
1 23 in the railroad revolving loan fund established in section
1 24 327H.20A an amount equal to the amount of loan repayments made
1 25 under section 327H.18 and chapter 327I that exceed one million
1 26 one hundred ninety thousand dollars during fiscal year 1999.
1 27 EXPLANATION
1 28 This bill establishes a railroad revolving loan fund in the
1 29 state treasury under the control of the state department of
1 30 transportation and appropriates an amount equal to the amount
1 31 of loan repayments made under Code section 327H.18 and Code
1 32 chapter 327I that exceed $1,190,000 during the fiscal year
1 33 1999. The moneys in the fund are to be loaned for the
1 34 purposes of restoring, conserving, improving, or constructing
1 35 railroad main lines, branch lines, switching yards, sidings,
2 1 rail connections, intermodal yards, highway grade separations,
2 2 and other railroad-related improvements. Loan repayments and
2 3 any balances in the fund would not revert to the general fund
2 4 of the state at the end of any fiscal year.
2 5 LSB 3434SZ 77
2 6 jm/jw/5
Text: SF02416 Text: SF02418 Text: SF02400 - SF02499 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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