A bill to amend the Regional Railroad Reorganization Act of 1973, as amended.

States that, in the event of transfers from the Consolidated Rail Corporation or a railroad in reorganization under the Regional Railroad Reorganization Act of 1973, the employment of individuals with the acquiring railroads who were previously employed by such selling railroads shall be governed by the collective bargaining agreement that is in effect on the line of the acquiring railroad, unless a previous agreement has been made between the acquiring railroad and representatives of such employee. Requires the acquiring railroad to afford such employees, and its own employees adversely affected by such acquisition, the employee benefits and protection specified under such Act. States that the National Railroad Passenger Corporation shall be deemed an acquiring railroad with respect to "protected employees" under such Act.