Surface Transportation Board Improvement Act of 1999

Surface Transportation Board Improvement Act of 1999 - Amends Federal transportation law to require a rail carrier or corporation that is involved in a purchase and sale, a lease, or a corporate consolidation or merger transaction that has been approved or exempted by the Surface Transportation Board, and which is exempt from State regulation, to obtain, before such transaction can be carried out, the assent of a majority (or the number required under applicable State law) of the votes of the holders of the capital stock of such corporation.

Revises certain requirements to subject employee protective arrangements to specified conditions.