Senate
File
273
-
Introduced
SENATE
FILE
273
BY
SHIPLEY
A
BILL
FOR
An
Act
relating
to
the
railroad
revolving
loan
and
grant
fund
1
by
making
moneys
available
to
certain
railroads
operating
2
exclusively
in
Iowa.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
TLSB
1910XS
(2)
90
th/ns
S.F.
273
Section
1.
Section
327H.20A,
subsection
2,
Code
2023,
is
1
amended
to
read
as
follows:
2
2.
The
department
shall
administer
a
program
for
the
3
granting
and
administration
of
loans
and
grants
under
this
4
section
.
The
department
may
establish
a
limit
on
the
amount
5
that
may
be
awarded
as
a
grant
for
any
given
project
in
order
6
to
maximize
the
use
of
the
moneys
in
the
fund.
The
department
7
may
enter
into
agreements
with
railroad
corporations,
the
8
United
States
government,
cities,
counties,
and
other
persons
9
for
carrying
out
the
purposes
of
this
section
.
However,
10
the
department
shall
not
grant
any
loans
to
a
class
I
or
11
class
II
railroad
carrier,
as
defined
by
the
federal
surface
12
transportation
board,
or
any
class
III
railroad
carrier,
as
13
defined
by
the
federal
surface
transportation
board,
that
14
operates
trains
beyond
the
borders
of
this
state.
15
EXPLANATION
16
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
17
the
explanation’s
substance
by
the
members
of
the
general
assembly.
18
The
department
of
transportation
(DOT)
controls
a
railroad
19
revolving
loan
and
grant
fund.
Moneys
in
the
fund
are
used
20
to
provide
assistance
for
the
restoration,
conservation,
21
improvement,
and
construction
of
railroad
main
lines,
branch
22
lines,
switching
yards,
sidings,
rail
connections,
intermodal
23
yards,
highway
grade
separations,
and
other
railroad-related
24
improvements,
and
for
rail
economic
development
projects
that
25
improve
rail
facilities,
including
the
construction
of
branch
26
lines,
sidings,
rail
connections,
intermodal
yards,
and
other
27
rail-related
improvements
that
spur
economic
development
and
28
job
growth.
The
DOT
administers
a
program
for
the
granting
29
and
administration
of
applicable
loans
and
grants,
and
may
30
establish
a
limit
on
the
amount
that
may
be
awarded
for
any
31
given
project
in
order
to
maximize
the
use
of
the
moneys
in
the
32
fund.
33
This
bill
prohibits
the
DOT
from
granting
any
loans
to
a
34
class
I
or
class
II
railroad
carrier,
as
defined
by
the
federal
35
-1-
LSB
1910XS
(2)
90
th/ns
1/
2
S.F.
273
surface
transportation
board
(STB),
or
any
class
III
railroad
1
carrier
that
operates
trains
beyond
the
borders
of
this
state.
2
The
STB
is
an
independent
federal
agency
that
is
charged
3
with
the
economic
regulation
of
various
modes
of
surface
4
transportation
including
primarily
freight
rail.
The
STB
has
5
defined
three
classes
of
railroad
carriers,
designated
as
6
class
I,
class
II,
and
class
III,
respectively,
according
to
7
annual
revenue
criteria.
The
STB
thresholds,
last
adjusted
8
for
inflation
in
2019,
for
a
class
I
carrier
includes
a
9
carrier
earning
revenue
greater
than
$504,803,294.
A
class
II
10
carrier
is
a
carrier
earning
revenue
between
$40,387,772
and
11
$504,803,294.
A
carrier
earning
revenues
less
than
$40,387,772
12
is
a
class
III
carrier.
13
-2-
LSB
1910XS
(2)
90
th/ns
2/
2