Emergency Fossil Fuel Rail Bank Act

Emergency Fossil Fuel Rail Bank Act - Declares the finding of the Congress that railroad rights-of-way existing in areas of the United States in which fossil fuel natural resources are situated are essential to the public interest. Declares the finding that severe energy shortages can be reduced by the preservation of such rights-of-way.

Makes it the purpose of this Act to authorize the Secretary of the Interior to provide for the creation of a fossil fuel rail bank to assure the preservation of rail trackage and other rail properties for fossil fuel transport.

Defines terms used in this Act.

Directs the Secretary to establish such a fossil fuel rail bank. Authorizes the Secretary to acquire rail properties or interests in rail properties.

Limits the disposition of such rail properties where such would adversely affect continued access to, and egress by rail from, facilities in which fossil fuels are being or can be extracted or processed.

Authorizes the appropriation of up to $12,000,000 to carry out this Act.