Interstate Railroad Act

Interstate Railroad Act - Title I: Findings, Purposes, and Definitions - Defines the terms in this Act.

Sets forth the findings of Congress in regard to the present railroad system in the United States.

Title II: Interstate Railroad System - Requires all rail carriers to provide the Secretary of Transportation with copies of all current restrictions on train operations, including employees' operating timetables and all "sloworders".

Designates all rail lines operated by domestic railroad companies subject to traffic usage of at least twenty million gross ton-miles per year as part of the initial Interstate Railroad System. Sets forth procedures for final designation of the Interstate Railroad System.

Authorizes appropriations for use of the Secretary of Transportation and the Rail Services Planning Office.

Title III: Rehabilitation, Maintenance, and Modernization of Rail Lines - Directs the Secretary of Transportation to prescribe standards for maintenance of all rail lines. Provides that rail lines included within the System shall be maintained for smooth and dependable operation of freight trains at speeds up to sixty miles an hour.

Provides that all rail lines shall be in compliance with the standards prescribed in accordance with this title on or before the expiration of 3 years following enactment of this Act.

Provides that no rail line shall contract out any project for rehabilitation or maintenance work required by this Act of a value of over $450 per month in labor and materials which is normally performed by employees in any bargaining unit covered by a labor agreement between the rail line and any labor organization.

Authorizes the Secretary to make rehabilitation assistance grants for the purpose of enabling railroad companies to comply with the provisions of this title. Sets forth criteria for such grants and the application procedures for obtaining them.

Authorizes the appropriation of $500,000,000 for each of the fiscal years ending June 30, 1975-77 to carry out the "grants" provisions of this title.

Authorizes the Secretary to guarantee any lender against loss of principal and interest on securities, obligations, or loans issued to finance rehabilitation work required by this Act. Sets forth application procedures for such guarantees. Authorizes the appropriation of such amounts as are necessary to discharge obligations to honor loan guarantees made under this Act.

Provides that any railroad company may apply to the Secretary for a grant to reconstruct railroad lines which have been damaged or destroyed by unforeseeable disaster outside the control of the applicant. Authorizes the appropriation of not in excess of $10,000,000 per year for such purpose.

Authorizes the appropriation of $10,000,000 in each of the fiscal years ending June 30, 1975-77 for the Secretary to undertake a continuing program of research and development into improving the stability, ride quality, longevity, and maintenance economies of railroad track and roadbed.

Directs the Secretary and the Corps of Engineers to jointly undertake and carry out a study of the long-term capital needs for modernization and upgrading of the Interstate Railroad System. Sets forth the prescribed content of such study and the reporting requirements for the study. Authorizes the appropriation of $1,000,000 for the purpose of carrying out such study.

Title IV: Access to Rail Lines and Facilities - Authorizes the Interstate Commerce Commission to order access for use of any rail line or other facility by a rail carrier. Sets forth procedures for the modification of existing arrangements with respect to access to rail lines. Requires the rail carrier whose employees will be affected by rail lines access arrangements to protect individual employees against a worsening of their positions with respect to their employment.

Directs the Interstate Commerce Commission to consider and determine the extent to which a rail carrier has availed itself of the provisions of this title to effect economics and efficiencies in its operations, when passing upon any application by such carrier for increased freight rates, increased division of revenues, or other financial relief.

Title V: Records, Reports, Administration, and Enforcement - Provides for public inspection of records relating to this Act and sets forth reporting requirements for the Secretary of Transportation with respect to activities under this Act.

Establishes an advisory committee composed of one representative from each of the following organizations: (1) National Association of Regulatory Utility Commissioners; (2) National Governors Conference; (3) Association of American Railroads; (4) National Railroad Passenger Corporation; (5) Congress of Railway Unions; (6) Railway Labor Executives Association; (7) National Industrial Traffic League; and (8) National Association of Railroad Passengers. Requests the committee to monitor the activities of the Secretary of Transportation pursuant to this Act and submit an annual report evaluating the effectiveness of this Act to the Secretary, the Congress, and the public.

Authorizes the Secretary to perform such acts as he deems necessary to carry out the provisions of this Act.

Sets forth penalties for the violation of any provision of this Act by any railroad company.

Authorizes the appropriation to the Secretary of Transportation such sums as are necessary for the administration and enforcement of this Act, not to exceed $10,000,000 in any one fiscal year.

Title VI: Miscellaneous Provisions - Relieves all persons contracting for the joint use of railroad tracks and facilities from all prohibitions of existing law, including the antitrust laws of the United States, with respect to such contracts.