{"data":{"id":"us-ky/krs-174.058","jurisdiction":"us-ky","citation":"KRS 174.058","heading":"Shortline railroad assistance fund.","body":"(1) As used in this section:\n(a) \"Class II railroad\" means a railroad company classified as a Class II carrier by\nthe federal Surface Transportation Board; and\n(b) \"Class III railroad\" means a railroad company classified as a Class III carrier\nby the federal Surface Transportation Board.\n(2) The shortline railroad assistance fund is hereby established in the State Treasury as\nan interest-bearing fund and shall be administered by the cabinet.\n(3) The fund shall be a dedicated fund, and all moneys in the fund shall be used solely\nto provide financial assistance for the rehabilitation and improvement of a Class II\nrailroad and Class III railroad operating in Kentucky.\n(4) Eligible costs for which financial assistance may be provided shall include\nconstruction, reconstruction, improvement, or r ehabilitation of rail facilities,\nincluding tracks, ties, roadbeds, and related structures used for freight rail operation.\n(5) Financial assistance provided from the fund shall be limited to:\n(a) Grants; and\n(b) Loans, which shall be made at or below mark et interest rates, including\ninterest-free loans, at terms not to exceed ten (10) years.\n(6) All loan payments and repayments, and all interest payments on loans, shall be\ncredited to the fund.\n(7) The cabinet may promulgate administrative regulations rega rding procedures for\nproviding financial assistance pursuant to this section.\n(8) The shortline railroad assistance fund is authorized to receive funds from\nappropriations of the General Assembly, repayments of loans and interest thereon,\ninterest from fun d principal, grants, donations, and payments to the fund for any\nlawful purpose.\n(9) Notwithstanding KRS 45.229, any moneys remaining in the fund at the close of a\nfiscal year shall not lapse but shall be carried forward to the next fiscal year to be\nused for the purposes set forth in this section.\n(10) The cabinet may enter into agreements with federal or state agencies or any other\npersons to carry out the provisions of this section.\n(11) Any moneys in the fund are hereby appropriated for the purposes set forth in this\nsection.","path":["KRS Chapter 174"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=5005","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:24Z","sha256":"98b597c0e5b7a4fbf87885cfeb84e8c7623dea79314f90d0b3fbe6921ab5e1ef","source_id":"us-ky","stale":false,"prev":"us-ky/krs-174.057","next":"us-ky/krs-174.060"},"notice":"GroundRules: Original legal text. Not legal advice."}