This text of Indiana § 8-3-1.7-4 (Application; approval; criteria; service of loan) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Any railroad may apply for a loan from the
industrial rail service fund for the purpose of providing railroad
transportation service in Indiana. The application shall be submitted to
the Indiana department of transportation. The department shall make
the final decision as to whether or not to approve an application. In
determining if a loan should be made to a railroad, the department shall
consider the following criteria:
(1)The importance of the railroad transportation services that the
loan would affect, in the broad perspective of Indiana's overall
transportation network.
(2)The impact of a decision to not provide a loan on economic
activity and employment in Indiana.
(3)The long term viability of the proposed project as
demonstrated by the following:
(A)The long term prospect for
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Any railroad may apply for a loan from the
industrial rail service fund for the purpose of providing railroad
transportation service in Indiana. The application shall be submitted to
the Indiana department of transportation. The department shall make
the final decision as to whether or not to approve an application. In
determining if a loan should be made to a railroad, the department shall
consider the following criteria:
(1) The importance of the railroad transportation services that the
loan would affect, in the broad perspective of Indiana's overall
transportation network.
(2) The impact of a decision to not provide a loan on economic
activity and employment in Indiana.
(3) The long term viability of the proposed project as
demonstrated by the following:
(A) The long term prospect for the affected industries.
(B) The soundness of the proposed business plan including an
analysis of the economic impact of the proposed fee structure
on affected rail users.
(C) The management of the proposed rail line.
(D) The active involvement of affected rail users in the
development of the proposed business plan.
Once an application is approved, the state comptroller shall service the
loan.
As added by Acts 1982, P.L.51, SEC.2. Amended by
P.L.84-1988, SEC.4; P.L.18-1990, SEC.39; P.L.9-2024,
SEC.284.