The bill proposes to indemnify Ramsey County and the Ramsey County Regional Railroad Authority for excess liability resulting from rail-related incidents at Union Depot in St. Paul, contingent upon the procurement of adequate insurance. Specifically, the state will cover any liability exceeding $50,000,000, after applying any insurance proceeds, up to the damages limitation set forth in federal law. This new provision is codified under Minnesota Statutes, chapter 383A, with the specific section labeled as [383A.51] RAILROAD MONEY.

Additionally, the bill clarifies that the insurance obtained by Ramsey County and the Ramsey County Regional Railroad Authority does not waive the liability limits established in existing state law. The effective date of this legislation is set for the day following its final enactment.