There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
CHAPTER 174 TRANSPORTATION CABINET
174.058 Shortline railroad assistance fund.
Download pdfrailroad and Class III railroad operating in Kentucky. (4) Eligible costs for which financial assistance may be provided shall include construction, reconstruction, improvement, or rehabilitation of rail facilities,
including tracks, ties, roadbeds, and related structures used for freight rail operation. (5) Financial assistance provided from the fund shall be limited to: (a) Grants; and
(b) Loans, which shall be made at or below market interest rates, including interest-free loans, at terms not to exceed ten (10) years. (6) All loan payments and repayments, and all interest payments on loans, shall be credited to the fund. (7) The cabinet may promulgate administrative regulations regarding procedures for providing financial assistance pursuant to this section. (8) The shortline railroad assistance fund is authorized to receive funds from appropriations of the General Assembly, repayments of loans and interest thereon,
interest from fund principal, grants, donations, and payments to the fund for any
lawful purpose. (9) Notwithstanding KRS 45.229, any moneys remaining in the fund at the close of a fiscal year shall not lapse but shall be carried forward to the next fiscal year to be
used for the purposes set forth in this section. (10) The cabinet may enter into agreements with federal or state agencies or any other persons to carry out the provisions of this section. (11) Any moneys in the fund are hereby appropriated for the purposes set forth in this section. Effective: June 26, 2009
History: Created 2009 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 72, effective June 26, 2009.
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