(1) The department, subject to section 431-1303, may acquire by purchase all or part of any eligible rail line or right-of-way made available as provided in this part 13. Rail lines and rights-of-way purchased by the department pursuant to this part 13 shall constitute the state rail bank.
Prior to any acquisition of a rail line or right-of-way pursuant to this part 13 orsection 43-1-803, the department shall prepare an environmental audit of the property and shall consider the environmental condition of the property in its acquisition.
The commission shall review any property determined to be eligible for acquisitionand approve the acquisition before the executive director submits the prioritized list of rail line or right-of-way to be acquired to the TLRC pursuant to section 43-1-1303 (3).
Repealed.
Source: L. 97: Entire part added, p. 1620, § 2, effective June 4. L. 98: (4) added, p. 496, § 1, effective April 22. L. 99: (4)(c)(I), (4)(e), and (4)(f) amended, p. 544, § 3, effective May 5. L. 2002: (4)(e) amended, p. 262, § 1, effective August 7.
Editor's note: Subsection (4)(f) provided for the repeal of subsection (4), effective upon the date the revisor of statutes receives notice from the department of transportation that the Towner railroad line has been sold or abandoned. The revisor of statutes was notified on
December 15, 2011, that the Towner line had been sold, effective October 4, 2011. (See L. 99, p. 544.)