Amtrak Restructuring Act of 1995

Amtrak Restructuring Act of 1995 - Amends Federal transportation law to set forth as a congressional finding that the National Railroad Passenger Corporation (Amtrak) should be available to operate commuter rail passenger transportation under contract with commuter authorities to the extent it is fully reimbursed for costs incurred in operating such services, including a reasonable return on its investment of time and resources.

Establishes as an Amtrak goal management of its capital investment to provide its customers with world class service.

(Sec. 5) Authorizes appropriations for Amtrak for: (1) operating expenses; (2) capital investment; (3) construction expenses to convert the James A. Farley Post Office, New York City, into a train station and commercial center and for the redevelopment of the Pennsylvania Station, New York City; (4) transition costs associated with long-term restructuring of Amtrak; (5) capital expenditures for the Northeast Corridor improvement project; and (6) certain mandatory payments.

(Sec. 6) Declares that certain limits on the contracting out of work by Amtrak shall not bar it and the union representing its employees from negotiating a collective bargaining agreement that permits greater flexibility in such contracting.

(Sec. 7) Requires a certain annual report to the Congress concerning Amtrak routes that provide intercity rail passenger transportation to include, among other things, information on the long-term profit or loss.

Requires Amtrak to include in its annual report on operations to the President and to the Congress: (1) projections of anticipated and realized benefits of proposed and previously funded projects; (2) identification of improvements in the quality of Amtrak service; (3) facility improvements that demonstrate a productivity gain; (4) equipment improvements that lower operating costs; (5) environmental benefits (including air quality and land use benefits); (6) enhancements to local transportation needs, including mobility of physically and economically disadvantaged persons; (7) improvement of revenue-to-cost ratio; (8) any reduced dependence on Federal operating support; and (9) reductions in the need for alternative transportation investments.

(Sec. 8) Revises the composition of the Amtrak board of directors to include two individuals selected by the President from a list of five names submitted by commuter authorities providing service over Amtrak rail properties (currently, one individual nominated by each commuter authority).

Authorizes Amtrak to cooperate, upon request, with applicants proposing technology demonstrations financed under U.S. law.

Repeals a provision regarding assistance for upgrading of railroad facilities.

(Sec. 9) Eliminates the Amtrak Commuter Service Corporation.

(Sec. 10) Changes from mandatory to discretionary Amtrak authority to provide cost-effective intercity rail passenger service. Requires Amtrak's decisions regarding the initiation, retention, modification, or elimination of intercity rail passenger service to be made on the basis of available financial resources. Requires any Amtrak agreement with State or local governments or private entity to support such service to be made with the understanding that Federal funding will decrease through time.

Sets forth certain financial requirements for the discontinuance of Amtrak rail routes or service.

(Sec. 11) Repeals provisions regarding: (1) certain requirements directing Amtrak to provide notice of discontinuance of rail service to State or local authorities or other persons; (2) discontinuance of such service based on lack of appropriations; and (3) exemption of Amtrak Commuter from discontinuance requirements.

Authorizes Amtrak and unions representing Amtrak employees to negotiate new employee protective arrangements that differ from the requirements of other portions of this section and the terms of the Appendix C-2 to Basic Agreement between Amtrak and the freight railroads. Declares that any of the provisions of this section and the terms of Appendix C-2 that are inconsistent with a new protective arrangement shall cease to apply to the bargaining unit covered by such new arrangement.

(Sec. 12) Repeals specified provisions regarding rail route discontinuance.

(Sec. 13) Directs Amtrak to construct an electrification system between Boston, Massachusetts, and New Haven, Connecticut, to accommodate the installation of a third mainline track between Davisville and Central Falls, Rhode Island, to be used for double-stack freight service to and from the Port of Davisville. Requires Amtrak to report to the Congress on its electrification design between Davisville and Central Falls, Rhode Island.

(Sec. 14) Prohibits cross-subsidization between intercity rail passenger and commuter rail passenger transportation that crosses over certain rights-of-way.

Repeals a specified section of the Northeast Rail Service Act of 1981 relating to compensation to Amtrak for right-of-way costs related to the operation of commuter rail passenger service over the Northeast Corridor.

(Sec. 15) Directs Amtrak to make any capital improvements for the Northeast Corridor improvement project program necessary for reliable, high-speed rail passenger service and enhancement of capacity for intercity and commuter passenger service.

Authorizes appropriations to the Secretary of Transportation to make grants to the State of Rhode Island for the construction of a third track with sufficient clearance to accommodate double stack freight cars on the Northeast Corridor between Davisville and Central Falls, Rhode Island.