HB 357: "An Act relating to the sale of land owned by the Alaska Railroad that is not needed for railroad purposes."

00 HOUSE BILL NO. 357 01 "An Act relating to the sale of land owned by the Alaska Railroad that is not needed for 02 railroad purposes." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 42.40.350(c) is amended to read: 05 (c) The corporation may lease, subject to AS 42.40.285 and (d) of this section, 06 grant easements in or permits for, or otherwise authorize use of portions of rail land. 07 However, the corporation may not convey its entire interest in rail land except as 08 provided in AS 42.40.285, 42.40.352, 42.40.370(d), and 42.40.400. 09 * Sec. 2. AS 42.40 is amended by adding a new section to read: 10 Sec. 42.40.352. Sale of land not necessary for essential railroad purposes. 11 (a) The corporation may sell land if the board finds (1) the land is not necessary for 12 essential railroad purposes, and (2) the sale of the land is in the best interest of the 13 state. The sale of land is subject to the terms and conditions of AS 42.40.285, 14 42.40.350(d), and this section.

01 (b) Before offering land for sale under this section, the railroad shall 02 (1) publish public notice of the proposed sale that includes the finding 03 by the board that the land is not necessary for railroad purposes and that the sale is in 04 the best interest of the state; 05 (2) provide notice to persons having a leasehold interest in the land 06 proposed to be sold and offer the leaseholders the right of first refusal; and 07 (3) receive legislative approval under AS 42.40.285. 08 (c) The corporation shall separately account for the proceeds from the sale of 09 land under this section and shall report the earnings and balance in the account in the 10 annual report required by AS 42.40.260. Money in the account may be appropriated in 11 accordance with 45 U.S.C. 1207(a)(5) (Alaska Railroad Transfer Act of 1982).