This bill aims to modify taxation related to certain types of railroads in Minnesota. Specifically, it addresses the issuance and transfer of credit certificates to railroads classified as Class II or Class III by the United States Surface Transportation Board. These railroads are eligible to receive credits for expenses related to maintaining, reconstructing, or replacing railroad infrastructure. The bill also defines terms such as "eligible taxpayer," "eligible transferee," and what constitutes qualified railroad expenditures. Additionally, it introduces provisions for transferring these credit certificates to other taxpayers under specific conditions.