Bill > HB216

This bill authorizes the Alaska Railroad Corporation (ARC), a state-owned entity responsible for operating the Alaska Railroad, to transfer approximately 84.8 acres of its land within the City of Whittier to the city itself. The transfer is to be for fair market value, meaning the city will pay the ARC an amount equivalent to what the land is worth on the open market, and will be subject to any existing rights on the property. The bill specifies five general areas of interest for this land transfer, which involve portions of existing land surveys and parcels. It also acknowledges that the legal descriptions of the land may change due to necessary surveying and platting, and clarifies that the transfer includes any land reasonably modified from the described legal descriptions, as long as the ARC's board of directors approves it. In exchange for the land, the ARC can accept cash, land of equivalent value, or a combination of both, with any land received by the ARC to be managed according to state law. This legislative approval is specifically for the ARC to convey its full interest in the described land. The bill also includes a provision for its immediate effectiveness upon passage.