(a) The agency shall convey and transfer all of its rights, interests, privileges, and title, lien free, relating to its rail right-of-way south of the dividing line, including any associated real property, rail easements, branch or spur lines, leases, contracts, licenses and certificates of public convenience and necessity, common carrier obligations held by the agency, or an associated freight operator, and railroad assets the agency owns to the Sonoma-Marin Area Rail Transit District created pursuant to Section 105010 of the Public Utilities Code. (b) The Sonoma-Marin Area Rail Transit District shall retain and maintain, in perpetuity, all common carrier rights and obligations received from the agency. (c) This section shall become operative on March 1, 2022.
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