Bill Summaries: H174 (2013-2014 Session)

Tracking:
  • Bill H 174 (2013-2014)
    Summary date: Mar 19 2013 - View summary

    House committee substitute makes the following changes to the 1st edition.

    Recodifies designated provisions in GS 124-6 and 124-5 in new GS 124-15, and amends GS 124-15 to provide that one of the Governor's seven appointments to the board of directors may be a Board of Transportation appointee and another appointment may be an appointee to the North Carolina Economic Development Board.

    Amends GS 124-16 and 124-17 to require that any state-owned railroad company must also prepare and maintain a comprehensive capital investment plan (was, must maintain just a strategic plan).

    Amends GS 124-17, expanding the reporting requirement and information required to report annually to the Joint Legislative Commission on Governmental Operations and the Joint Legislative Transportation Oversight Committee.

    Amends GS 124-5.1, changing title to North Carolina Railroad Company dividends deposited to the Repairs and Renovations Reserve Account. Amends GS 124-5.1 to deposit any dividends of the North Carolina Railroad Company received by the state into the Repairs and Renovations Reserve Account (was, General Fund).

    Amends GS 124-18, providing that directors of any state-owned railroad company who vote for or assent to any dividend under this section will not be held liable under GS 55-8-33.

    Amends Section 4 of bill, one-time real property dividend, deleting Hillsborough Former Depot Lot from the list provided.

    Amends Section 4(b) of bill, providing for the Department of Administration to deposit proceeds of sales of the properties into the Repairs and Renovations Reserve Account.
    Transportation
    GS 134, GS 136
  • Bill H 174 (2013-2014)
    Summary date: Feb 27 2013 - View summary

    Identical to S 29, filed 1/31/13.

    Recodifies designated provisions in GS 124-6 and 124-5 in new GS 124-15, and amends GS 124-15 to provide that two of the Governor's seven appointments to the board of directors must be Board of Transportation appointees. Adds new GS 124-16 to require each state-owned railroad company (railroad company) to maintain a strategic plan and a formalized performance management system. Recodifies designated provisions in GS 124-3 in new GS 124-17, and amends GS 124-17 to require each railroad company to submit an annual report to specified committees. Directs each railroad company with trackage in more than two counties to issue a $15.5 million cash dividend by June 30, 2013, to be deposited in the General Fund.

    Effective January 1, 2014, adds new GS 124-18 to require railroad companies with trackage in more than two counties to issue an annual cash dividend of at least 25% of the company's income from trackage rights agreements for the previous year. Rewrites GS 124-5.1, which detailed state use of dividends, to instead provide that all dividends will be deposited into the General Fund. Repeals GS 136-16.6 (continuing rail appropriations).

    Requires railroad companies with trackage in more than two counties to issue dividends of non-corridor real property, as specified, by June 30, 2013. Directs the Department of Administration to sell the properties and deposit proceeds in the General Fund. Makes other clarifying and conforming changes.

     
    Transportation
    GS 124, GS 136

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