National Transportation Services Board Act

National Transportation Services Board Act - Title I: National Transportation Services Board - Establishes the National Transportation Services Board as an independent agency of the executive branch of Government. Abolishes the Department of Transportation, the Interstate Commerce Commission, the Civil Aeronautics Board, the Federal Maritime Commission, and the United States Railway Association, and transfers all the functions of such agencies to the Board. Sets forth the qualifications and terms of office for the members of the Board. Authorizes to be appropriated to the Board such sums as are necessary to carry out the provisions of this Act.

Title II: National Transportation Policy and Planning - Directs the Board to develop a single national transportation policy and to develop and recommend legislation to implement such policy.

Directs the Board to prepare a National Rail Services Plan on the basis of studies and reports prepared in accordance with the requirements set forth in this Act. Directs the Board to publish such plan in the Federal Register and to submit such plan to Congress. Provides for Congressional disapproval of such plan. Authorizes $35,000,000 to be appropriated for the preparation of such plan.

Title III: Acquisition of Railroad Rights-of-Way and Certain other Properties - Directs the Board to: (1) acquire by purchase or condemnation such railroad rights-of-way, track, and appurtenant property, equipment, and structures as are necessary for the operation of such rights-of-way and track to carry out the National Rail Services Plan established pursuant to this Act; and (2) enter into appropriate arrangements with the railroads for the use by such railroads of such rights-of-way, track, property, equipment, and structures in carrying out such Plan in return for the payment of an agreed upon fee calculated upon gross ton-miles of locomotive and train operation or upon such other standard or standards as may be determined by the Board.

Authorizes to be appropriated such sums as are necessary to pay for the property acquired pursuant to this title.

Title IV: Abandonment Moratorium and Alternative Service - Provides that no rail service may be discontinued without approval by the Board. Prohibits the Board from approving any petition for rail service discontinuance unless it determines that no community will be adversely affected. Authorizes a railroad whose discontinuance petition has been denied to apply for a rail service continuation subsidy.

Provides that a railroad which earned an average rate of return of less than 10 percent of its invested capital in its last five fiscal years, is entitled to financial assistance on rail service which it proposes to discontinue in a petition to the Board if the Board determines that such service is unprofitable to operate and could not continue to be operated without Federal assistance.