A BILL TO BE ENTITLED
AN ACT to reestablish and extend the Virginia‑North Carolina interstate High‑SPEED Rail Commission, direct the commission to study ESTABLISHMENT of an interstate high‑speed rail compact, and authorize the commission to hold REGULARLY SCHEDULED MEETINGS in both north carolina and virginia.
The General Assembly of North Carolina enacts:
SECTION 1.  Section 2 of S.L. 2001‑266, as amended by Section 2.22 of S.L. 2001‑486, reads as rewritten:
"SECTION 2.  In conducting its study, the Commission shall hold regularly scheduled meetings in this State and in Virginia, tours of inspection, and public hearings as appropriate to determine the desirability and feasibility of establishing high‑speed passenger rail service between Virginia and North Carolina. The Commission shall also study the establishment of an interstate high-speed rail compact between North Carolina, Virginia, and other states. If it appears to the Commission that establishment of such service or compact is desirable and feasible, the Commission shall consider and recommend to the Governor and General Assembly those legislative actions necessary to do so, including the identification of the necessary levels of funding and the sources of those funds."
SECTION 2.  Section 4 of S.L. 2001‑266, as amended by Section 2.22 of S.L. 2001‑486, reads as rewritten:
"SECTION 4.  The Commission shall report its findings and any recommendations to the Governor and the General Assembly by November 30, 2004, and may make an interim report to the Governor and General Assembly upon the convening of the  2004 Regular Session of the  2003 General Assembly. The Commission shall terminate on November 30, 2004."
SECTION 3.  This act is effective when it becomes law.