NC lawmakers seek railroad cash for building fixes - WNCN: News, Weather

NC lawmakers seek railroad cash for building fixes

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RALEIGH, N.C. -

Some legislators support a plan placing more supervision on North Carolina's state-owned railroad company and requiring it to transfer cash and future dividends to help fix and renovate state government buildings.
    
The House Finance Committee agreed Tuesday to direct the North Carolina Railroad to pay about $15 million and 25 percent of the track fees the company receives annually from Norfolk Southern. The railroad also would transfer surplus land to the state to be sold.
    
The railroad was created in 1849 and owns 317 miles of rail and land from Charlotte through Greensboro and Raleigh to the Morehead City port. The state is the only shareholder and legislators want to be more involved in oversight of the railroad.
    
The bill now goes to the full House.

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