From the Lansing State Journal

State lawmakers have switched on a flashing caution light for a proposed high-speed rail line between Detroit and Lansing.

Project investors must disclose financing details before the state can get on board, members of a legislative task force said Tuesday. But although questions remain about the financing and the viability of the project, members recommended further study of it.

In June, Michigan-based Interstate Traveler Co. LLC, or ITC, renewed its proposal for the high-tech system as part of a public-private partnership. It would use public rights of way along Interstate 96 and other highways but no taxpayer money.

The rail would run off solar-powered hydrogen and use magnetic levitation technology to propel rail cars about 200 miles per hour. It would cost $10 million a mile to build.

http://www.lansingstatejournal.com/article/20100120/NEWS04/1200311/1005/NEWS04