San Joaquin Valley Railroad Co. (SJVR) has filed for an exemption to continue leasing and operating 101.5 miles of rail lines from Union Pacific Railroad Company. This lease, initially established in 1994 and most recently renewed in 2020, has been extended by a Lease Amendment signed in January 2025, allowing operations to continue for another five years. SJVR's notice also requests a waiver for a 60-day advance notice to labor unions, which will be decided separately. Moreover, SJVR confirms that its projected revenues will not exceed the limit set for a Class III carrier, despite current revenues being over $5 million.
Simple Explanation
San Joaquin Valley Railroad is allowed to keep using some train tracks from Union Pacific Railroad for five more years and wants permission to skip telling some workers about this ahead of time. They also promise they won't make too much money with this deal so they still count as a small train company.