FINAL BILL REPORT

                  ESB 6776

                           C 73 L 96

                      Synopsis as Enacted

Brief Description:  Authorizing emergency grants to flood‑damaged short‑line or light‑density railroads.

Sponsors:  Senators Owen and Prince.

Senate Committee on Transportation

Background:  In 1995, the Legislature merged the essential rail banking account with the essential rail assistance account (ERAA).  Use of moneys in the account were further restricted.  One such restriction is that privately-owned railroads may not receive grants from the ERAA (although they may qualify for loans).

Summary:  Privately-owned short-line or light density railroads may receive state grants from the essential rail assistance account, but only for the purpose of repairing damage caused by recent flooding.  This emergency exception to the Legislature's policy of providing strictly loans expires on December 31, 1998, or sooner upon repair of flood damage.

Votes on Final Passage:

Senate    45 0

House     98 0

Effective:  March 13, 1996