A joint resolution to provide for a temporary prohibition of strikes or lockouts with respect to the Long Island Rail Road labor-management dispute and to provide for binding arbitration if the parties fail to settle the dispute.

Requires the Long Island Rail Raod and its employees to restore and maintain service during the period of the labor-management dispute.

Provides for a temporary prohibition of strikes or lockouts.

Establishes a separate three-member panel to mediate a resolution of such dispute and complete the collective bargaining process.

Provides for binding arbitration if the parties fail to settle the dispute through mediation by the neutral member of such panel.