To provide for a temporary prohibition of strikes or lockouts with respect to the unresolved disputes referred to in Executive Order No. 12714.

Provides for settlement of certain railroad labor-management disputes.

Sets forth conditions which shall apply during the resolution of such disputes, including a return to work under the conditions in effect prior to April 17, 1991 (when the workers went on strike).

Establishes a Special Board of Mediation, with its five members each to be appointed by specified labor or employer organizations, congressional officials, or the National Mediation Board, respectively. Directs the Special Board to: (1) within ten days, meet with all parties to these disputes to resolve them by mediation; and (2) investigate these disputes and report to the Congress, with recommendations, by July 15, 1991. Provides that such report and recommendations: (1) should consider whether the report and recommendations of Emergency Board No. 219 adequately identified the issues in dispute; but (2) shall not treat the Emergency Board's recommendations as being binding on the parties or as presumptively providing the appropriate bases for resolution of these disputes. Terminates the Special Board upon submission of such report.

Requires, unless the parties agree otherwise, that the rates of pay of all employees subject to this resolution shall be increased by five percent on June 15, 1991, effective as of February 15, 1991.