Agricultural and Rural Commodities Transportation Act

Agricultural and Rural Commodities Transportation Act - Title I: Short Title - Sets forth the title by which this Act is to be cited.

Title II: Amendments to Part 1 of the Interstate Commerce Act - Defines specific terms as they are held to be meant in the application of provisions of the Interstate Commerce Act. Defines such terms as "variable cost" and "fully allocated cost".

Empowers the Interstate Commerce Commission to determine and prescribe what will be a just, reasonable, and compensatory individual or joint rate, fare, or charge, or rates, fares, or charges not less than the variable cost or in excess of 100 percent of the fully allocated total cost, to be charged by a common carrier or carriers by railroad subject to this part for the transportation of agricultural commodities, where shippers have no effective alternative means of transport, and to make an order that the carrier or carriers shall cease and desist from such violation to the extent to which the Commission finds that the same does or will exist.

Directs the Commission to promulgate and publish rules and regulations prescribing uniform cost accounting methods for carriers by railroad subject to this part. States that such rules and regulations shall prescribe the elements of cost to be included in the calculation of carriers' variable and fully allocated total costs as required in this Act.

Directs the Commission to promulgate, publish, maintain, and update a formula necessary to determine the variable and fully allocated total costs of railroad carriers, on an individual and regional grouped basis, necessary to carry out the provisions of this Act.

Title III: Effective Dates - Sets forth a schedule of effective dates whereunder specified provisions of this Act shall become effective.