Bill S.260, introduced by Senator Harrison, seeks to enhance legislative oversight regarding the leasing of State-owned railroad rights-of-way in Vermont. The bill mandates that any new lease or renewal of an existing lease for the continued operation of such properties must receive approval from the General Assembly. If the General Assembly is not in session, the Joint Transportation Oversight Committee can provide the necessary approval. Additionally, the Secretary of Transportation is required to notify the relevant legislative committees within ten calendar days after entering into any lease or agreement, ensuring transparency and accountability in the leasing process.

The bill also includes provisions for short-term leases, allowing the Secretary to enter into agreements for a term not exceeding six months to maintain service continuity on State-owned railroads. Furthermore, the Secretary must inform the legislative committees when there are twelve months remaining on any operating lease or its extension. The act is set to take effect on July 1, 2026, thereby establishing a clear timeline for the implementation of these new requirements.

Statutes affected:
As Introduced: 5-3405