71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
 
NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .
 
LC 3536
 
                           B-Engrossed
 
                         Senate Bill 753
                  Ordered by the Senate July 4
      Including Senate Amendments dated April 2 and July 4
 
Sponsored by Senators MESSERLE, METSGER
 
 
                             SUMMARY
 
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure.
 
    { - Establishes Short Line Credit Premium Account. Authorizes
Department of Transportation to provide infrastructure assistance
from account to short line railroads. Specifies criteria for
giving priority to projects. - }
    { - Appropriates moneys to department for purposes of this
Act. - }
    { - Declares emergency, effective July 1, 2001. - }
   { +  Limits biennial expenditure of moneys from Short Line
Credit Premium Account by Department of Transportation.
  Limits biennial expenditure of moneys from Administrative
Services Economic Development Fund by Department of
Transportation. + }
 
                        A BILL FOR AN ACT
Relating to short line railroads; and limiting expenditures.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + Notwithstanding any other law, the amount of
$2,000,000 is established for the biennium beginning July 1,
2001, as the maximum limit for payment of expenses collected or
received by the Department of Transportation from the Short Line
Credit Premium Account for the short line railroad infrastructure
assistance program. + }
  SECTION 2.  { + Notwithstanding any other law, the amount of
$186,541 is established for the biennium beginning July 1, 2001,
as the maximum limit for payment of expenses collected or
received by the Department of Transportation from the
Administrative Services Economic Development Fund for the purpose
of paying debt service costs of lottery bonds issued to finance
the short line railroad infrastructure assistance program. + }
                         ----------