2009 North Carolina Code
Chapter 136 - Transportation.
§ 136-16.6. Continuing rail appropriations.

§ 136‑16.6.  Continuing rail appropriations.

(a)        There is annually credited to the Highway Fund one hundred percent (100%) of the annual dividends received by the State from its ownership of stock in the North Carolina Railroad Company for use by the Department of Transportation for railroad purposes.

(b)        The Department of Transportation shall include in its annual budget the purposes for which the annual dividends received by the State from its ownership of stock in the North Carolina Railroad Company will be used.

These purposes may include the following project types to be included in the annual Transportation Improvement Program:

(1)        Track and signal improvements for passenger service.

(2)        Rail passenger stations and multimodal transportation centers.

(3)        Grade crossing protection, elimination, and hazard removal.

(4)        Rail rolling stock cars and locomotives.

(5)        Rail rehabilitation.

(6)        Industrial rail access.

The Department of Transportation shall use these funds to supplement but not supplant funds allocated for projects approved as part of the Transportation Improvement Program.

(c)        There is annually appropriated to the Department of Transportation for railroad purposes, including capital contributions to the Beaufort and Morehead Railroad Company or any successor company, one hundred percent (100%) of the funds credited to the Highway Fund pursuant to subsection (a) of this section. (1987, c. 738, s. 170(a), (c); 1989, c. 500, s. 53; 1991, c. 689, s. 65; 1995, c. 324, s. 18.2; 1996, 2nd Ex. Sess., c. 18, s. 19.12; 1997‑443, s. 32.30(f).)