§1204 Transition Period

Summary

The Secretary and the Governor of Alaska must work together to send a report to Congress and the Alaska legislature within 6 months after January 14, 1983. The report must describe the Alaska Railroad’s rail property, the debts and duties the State will take on, any money in the Alaska Railroad Revolving Fund to be held back under section 1202(10)(C), and any personal property to be held back under section 1202(10)(D). The report must list which rail properties will be transferred, which will be licensed, and which easements will be kept. The Secretaries of Agriculture, Defense, and the Interior, and the Administrator of the General Services Administration must give the Secretary the information and help needed. From January 14, 1983 until the transfer date, the State can inspect and copy all rail property and related records held by any U.S. agency, under rules that protect confidential business and personnel information. During that time, without the State’s consent and except as the law or the Memorandum of Understanding allows, the Secretary and the Alaska Railroad may not (1) spend more than $300,000 from the Revolving Fund on a single capital item, (2) transfer real railroad property (unless the law requires it), or (3) lease railroad property for more than five years. Before transfer, the railroad’s accounting must be able to report to the Interstate Commerce Commission in the usual formats. The United States Railway Association (the “Association”) must find the railroad’s fair market value within 9 months after January 14, 1983, using normal appraisal methods and considering current and possible future uses and all legal obligations. That valuation does not change any Interstate Commerce Commission inventory or classification requirements.