{"id":1181,"date":"2022-07-21T15:53:32","date_gmt":"2022-07-21T15:53:32","guid":{"rendered":"https:\/\/sites.ncleg.gov\/ped\/?page_id=1181"},"modified":"2022-07-28T15:33:13","modified_gmt":"2022-07-28T15:33:13","slug":"2012-10","status":"publish","type":"page","link":"https:\/\/sites.ncleg.gov\/ped\/2012-10\/","title":{"rendered":"North Carolina Should Require NC Railroad Company to Pay an Annual Dividend and Strengthen Reporting (October 2012)"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large is-resized h-50 w-50 float-right pl-4 pt-2\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/sites.ncleg.gov\/ped\/wp-content\/uploads\/sites\/11\/2022\/07\/NCRR-1-1024x592.jpg\" alt=\"\" class=\"wp-image-1182\" width=\"700\" height=\"600\"\/><\/figure>\n\n\n\n<p>The North Carolina Railroad Company (NCRR) has benefitted from its unique relationship with the State, the corporation&#8217;s sole shareholder, but the State has not benefitted financially from this relationship. Selling NCRR or the railroad corridor may not be in the best interest of the State because these valuable rail assets and their long-term earnings potential would be lost. The State has limited mechanisms for oversight of NCRR, but changing its corporate structure requires a lengthy and complicated process. The General Assembly should amend state law to strengthen reporting by NCRR; require NCRR to pay a one-time dividend of $15.5 million and, thereafter, an annual dividend to the General Fund; and require NCRR to convey to the State properties not directly related to the railroad corridor so these properties can be sold and the proceeds deposited into the General Fund.<\/p>\n\n\n\n<p><a href=\"https:\/\/sites.ncleg.gov\/ped\/wp-content\/uploads\/sites\/11\/2022\/07\/NCRR_Report.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Final Report<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/sites.ncleg.gov\/ped\/wp-content\/uploads\/sites\/11\/2022\/07\/NCRR_Exec_Summary.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Executive Summary<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/sites.ncleg.gov\/ped\/wp-content\/uploads\/sites\/11\/2022\/07\/NCRR_Presentation.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Presentation<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/sites.ncleg.gov\/ped\/wp-content\/uploads\/sites\/11\/2022\/07\/NCRR_Handout.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Handout<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/sites.ncleg.gov\/ped\/wp-content\/uploads\/sites\/11\/2022\/07\/NCRR_Follow.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">FOLLOW-UP REPORT<\/a><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><br>Relevant Legislation:<\/h4>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/sites.ncleg.gov\/ped\/wp-content\/uploads\/sites\/11\/2022\/07\/NCRR_Legislation.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">S.L. 2013-360, Section 34.14<\/a>: Required NCRR to prepare and maintain a strategic plan, develop and implement a performance management system, and issue an annual cash dividend to the State.<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><br>Cost Savings:<\/h4>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"217\" height=\"222\" src=\"https:\/\/sites.ncleg.gov\/ped\/wp-content\/uploads\/sites\/11\/2022\/07\/railroadsavingspiggy.gif\" alt=\"\" class=\"wp-image-1183\"\/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\"><br>Press Coverage:<\/h4>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"http:\/\/www.wral.com\/report-finds-nc-not-benefitting-from-railroad-profits\/11680320\/\" target=\"_blank\" rel=\"noreferrer noopener\">WRAL-TV<\/a><\/li><li><a href=\"http:\/\/www.rtands.com\/index.php\/track-maintenance\/on-track-maintenance\/ncdot-awards-16-million-for-state-rail-improvement-projects.html\" target=\"_blank\" rel=\"noreferrer noopener\">RT&amp;S<\/a><\/li><li><a href=\"http:\/\/www.progressiverailroading.com\/mow\/news\/North-Carolina-DOT-allocates-funds-for-40-freightrail-projects--40511\" target=\"_blank\" rel=\"noreferrer noopener\">Progressive Railroading<\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The North Carolina Railroad Company (NCRR) has benefitted from its unique relationship with the State, the corporation&#8217;s sole shareholder, but the State has not benefitted financially from this relationship. Selling NCRR or the railroad corridor may not be in the best interest of the State because these valuable rail assets and their long-term earnings potential [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"class_list":["post-1181","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>North Carolina Should Require NC Railroad Company to Pay an Annual Dividend and Strengthen Reporting (October 2012) - Program Evaluation Division<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/sites.ncleg.gov\/ped\/2012-10\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"North Carolina Should Require NC Railroad Company to Pay an Annual Dividend and Strengthen Reporting (October 2012) - Program Evaluation Division\" \/>\r\n<meta property=\"og:description\" content=\"The North Carolina Railroad Company (NCRR) has benefitted from its unique relationship with the State, the corporation&#8217;s sole shareholder, but the State has not benefitted financially from this relationship. Selling NCRR or the railroad corridor may not be in the best interest of the State because these valuable rail assets and their long-term earnings potential [&hellip;]\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/sites.ncleg.gov\/ped\/2012-10\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Program Evaluation Division\" \/>\r\n<meta property=\"article:modified_time\" content=\"2022-07-28T15:33:13+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/sites.ncleg.gov\/ped\/wp-content\/uploads\/sites\/11\/2022\/07\/NCRR-1-1024x592.jpg\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/sites.ncleg.gov\/ped\/2012-10\/\",\"url\":\"https:\/\/sites.ncleg.gov\/ped\/2012-10\/\",\"name\":\"North Carolina Should Require NC Railroad Company to Pay an Annual Dividend and Strengthen Reporting (October 2012) - Program Evaluation Division\",\"isPartOf\":{\"@id\":\"https:\/\/sites.ncleg.gov\/ped\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/sites.ncleg.gov\/ped\/2012-10\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/sites.ncleg.gov\/ped\/2012-10\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/sites.ncleg.gov\/ped\/wp-content\/uploads\/sites\/11\/2022\/07\/NCRR-1-1024x592.jpg\",\"datePublished\":\"2022-07-21T15:53:32+00:00\",\"dateModified\":\"2022-07-28T15:33:13+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/sites.ncleg.gov\/ped\/2012-10\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/sites.ncleg.gov\/ped\/2012-10\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/sites.ncleg.gov\/ped\/2012-10\/#primaryimage\",\"url\":\"https:\/\/sites.ncleg.gov\/ped\/wp-content\/uploads\/sites\/11\/2022\/07\/NCRR-1.jpg\",\"contentUrl\":\"https:\/\/sites.ncleg.gov\/ped\/wp-content\/uploads\/sites\/11\/2022\/07\/NCRR-1.jpg\",\"width\":1326,\"height\":767},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/sites.ncleg.gov\/ped\/2012-10\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/sites.ncleg.gov\/ped\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"North Carolina Should Require NC Railroad Company to Pay an Annual Dividend and Strengthen Reporting (October 2012)\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/sites.ncleg.gov\/ped\/#website\",\"url\":\"https:\/\/sites.ncleg.gov\/ped\/\",\"name\":\"Program Evaluation Division\",\"description\":\"Just another NCGA Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/sites.ncleg.gov\/ped\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\r\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"North Carolina Should Require NC Railroad Company to Pay an Annual Dividend and Strengthen Reporting (October 2012) - Program Evaluation Division","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/sites.ncleg.gov\/ped\/2012-10\/","og_locale":"en_US","og_type":"article","og_title":"North Carolina Should Require NC Railroad Company to Pay an Annual Dividend and Strengthen Reporting (October 2012) - Program Evaluation Division","og_description":"The North Carolina Railroad Company (NCRR) has benefitted from its unique relationship with the State, the corporation&#8217;s sole shareholder, but the State has not benefitted financially from this relationship. 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