A bill to provide for an inquiry committee to assist in settling a strike or lockout which imperils or threatens to imperil the health or safety of any substantial geographic sector of the United States.

Provides, under the National Labor Management Relations act, that at lease 96 hours before any labor organization declares a strike it shall report in writing to the President its intention to strike, if in the opinion of such organization such strike would be directed against an employer engaged in transportation. Providing that at least 96 hours before it declares a lockout any employer shall report in writing to the President its intention to effect a lockout, if it considers itself to be an employer engaged in transportation.

States that if the President finds that such strike or lockout would imperil the health or safety of any substantial geographic sector of the United States he shall direct the Attorney General to petition any district court of the United States having jurisdiction of the parties to enjoin such strike or lockout.

Provides that a labor organization or employer does not report to the President, and if the strike or lockout which had been impending occurs, any interested third party may notify the President in writing that, at the time of such notification, the strike is directed against an employer engaged in transportation. Authorizes the President to appoint an inquiry committee within 24 hours from the time he receives such notification. Provides that two members of such committee shall be appointed from a list of six individuals submitted by any labor organization directly involved in the impending or actual strike or lockout, two members shall be appointed from a list of six individuals submitted by any employer directly involved in such impending or actual strike or lockout, and one member shall be appointed from a list of three individuals submitted by the above four.

States that, within 48 hours after its appointment, the committee shall conduct hearings or similar sessions, either in public or in private, solely to inquire into the question of whether or not the strike or lockout is imperiling or would imperil, if permitted to continue, the health or safety of the general public, and report its findings in writing to the President. Requires the President to direct the Attorney General to petition any district court having jurisdiction to enjoin such strike or lockout which is imperiling or would imperil the health and safety of the general public.

Provides for fines of $100,000 against any labor organization or employer who does not comply with the notification requirements of this Act.