An Act To Authorize A General Fund Bond Issue To Invest In Maine'S Railroad Infrastructure

This bill authorizes the State of Maine to issue up to $50,000,000 in bonds to fund investments in railroad infrastructure, primarily managed by the Department of Transportation. The funds are designated to expand passenger rail service, with a specific focus on track corridors that can support both passenger and freight intermodal operations as well as the transport of agricultural products. Before the money can be spent, the bill must be approved by voters in a statewide referendum held after its passage. If approved, the state treasurer will manage the sale of the bonds and ensure the proceeds are used only for the specified railroad projects. Any unspent funds after ten years or any bonds not issued within five years of approval must be returned to the state treasury.