The Commission shall:
1. Enter into an agreement with the Secretary of Transportation pursuant to 49 U.S.C. § 20105 that authorizes the Commission to participate in the enforcement of federal safety regulations and orders applicable to railroad equipment, facilities, rolling stock and operations in this state.
2. Accept and expend any federal money made available pursuant to 49 U.S.C. § 20105 for carrying out a safety program relating to railroads.
3. Adopt regulations concerning the safety of railroads in this state that incorporate the provisions of the statutes and regulations of other states and the Federal Government relating to railroad safety which the Commission determines are appropriate for this state.