Section 300. Legislative policy and purposes

It is hereby declared to be
  the policy of the state to encourage and bring about the rehabilitation,
  improvement, and  continued  operation  by  private  enterprise  of  the
  facilities  of  any domestic railroad corporation which now or hereafter
  is a debtor in proceedings under  the  bankruptcy  laws  of  the  United
  States  and which in the calendar year preceding the institution of such
  proceedings had passenger miles within the state of five hundred million
  or more, and to encourage and bring about  the  rehabilitation  of  such
  corporations  in  order  to  enable them, with private capital and under
  private  management,  to   furnish   safe,   efficient,   and   adequate
  transportation  service  to  the  people  of the state; and it is hereby
  further  found  and  declared  that  the  rehabilitation  and  continued
  operation  of  such corporations by private enterprise and enabling such
  bankruptcy proceedings to be terminated are matters of  public  concern;
  that  it  is  necessary to create, with adequate safeguards, inducements
  and opportunities for the  employment  of  private  investment  in  such
  rehabilitation  and  continued  operation; that a railroad redevelopment
  corporation qualifying hereunder serves a public purpose; that provision
  must be  made  for  the  granting  of  partial  tax  exemption  to  such
  corporations;  that  the  commissioner  of  transportation and any other
  state agency empowered to act under  section  three  hundred  three  are
  hereby declared to be the agencies and instrumentalities of the state to
  carry  out  the policy and purposes herein recited; and the necessity in
  the public interest  for  the  provisions  of  this  article  is  hereby
  declared as a matter of legislative determination.