1. Except as otherwise provided in this subsection or in subsection 2 of this section, the division of motor carrier and railroad safety shall, after hearing, adopt, in accordance with section 622.027, and enforce rules relating to the safe operation, maintenance and use of light rail, and the construction of light rail-highway crossings. The division of transportation shall examine the manner in which light rail property and services are safely conducted and operated. The division shall examine compliance with all the provisions of law, orders and decisions of the division regarding the safe operation of light rail, except that if the United States has enacted a law, or any officer or agency of the United States has adopted any rule, regulation, order, decision or standard covering the subject matter of the division’s rules relating to the safe operation, maintenance and use of light rail and the construction of light rail highway crossings, then compliance with that statute, regulation, order, decision or standard satisfies the duty of compliance with the law, rule, regulation, order or decision of the division covering that subject matter. The provisions of chapter 386, relating to the powers and duties of the public service commission and the procedure before the public service commission and the courts, as well as the provisions of section 622.030, are hereby made applicable to the division of motor carrier and railroad safety with regard to the safe operation of light rail as provided in this subsection.

2. The division of motor carrier and railroad safety shall not examine any individual or joint rate, fare, toll, charge, or other compensation of any person or any two or more persons or any schedule or tariff setting fares or rates for light rail or the hours of service, frequency, use and accommodations afforded customers or patrons of light rail or products or commodities furnished in connection with the operation of light rail.

3. The division may contract with the bi-state development agency created by section 70.370 for safety consultation pursuant to the division’s duties created by this section. Any moneys paid pursuant to this subsection shall be deposited in the light rail safety fund created in section 389.1010.

4. The division shall render a statement of such assessment to each light rail operator on or before July first and the amount so assessed to each light rail operator shall be paid by it to the director of revenue in full on or before July fifteenth immediately following the rendition of such statement, except that any such light rail operator may pay such assessment in four equal installments not later than the following dates immediately following the rendition of such statement, by making payments on July fifteenth, October fifteenth, January fifteenth and April fifteenth. The director of revenue shall remit such payments to the state treasurer.

5. The state treasurer shall credit such payments to the railroad expense fund established under section 622.015. Notwithstanding any provisions of section 622.015 to the contrary, that portion of the railroad expense fund received from light rail assessments pursuant to this section shall be devoted solely to the payment of expenditures incurred by the division of motor carrier and railroad safety within the department of economic development and attributable to the regulation of light rail.

6. In order to enable the division to make the assessments provided for in this section, each light rail operator shall file with the division, within ten days after August 28, 1996, and thereafter on or before March thirty-first of each year, a statement under oath showing its total operated train miles for the preceding calendar year, and if any light rail operator shall fail to file such a statement within such time, the division shall estimate such miles which estimate shall be binding on such light rail operator for the purpose of this section.