Regional Rail Reorganization Act Amendments of 1975

(Measure passed House, amended, in lieu of H.R. 2051)

Regional Rail Reorganization Act Amendments - Requires that, in the course of the reorganization process under the Regional Rail Reorganization Act of 1973, attorneys employed by the Rail Services Planning Office of the Interstate Commerce Commission protect the interests of otherwise inadequately represented communities and rails service users.

Authorizes such office to hold public hearings on any supplement to the preliminary system plan.

Provides that upon determination that the reorganization of a railroad subject to reorganization under the Bankruptcy Act shall not be proceeded with pursuant to the Regional Rail Reorganization Act, the court having jurisdiction over such railroad may, upon petition, reconsider such order.

Increases from $85,000,000 to $282,000,000 the appropriation authorization for continuing essential rail services pending implementation of a final reorganization system plan.

Authorizes the Secretary to enter into interim agreements with railroads undergoing reorganization to perform program maintenance, to improve rail properties, and to acquire rail properties for lease or loan to any such railroad. Prescribes conditions for such agreements. Allows the United States Railway Association to issue up to $300,000,000 in obligations at any one time to finance such agreements. Requires the Consolidated Rail Corporation to assume such obligations.

Prohibits any railroad in reorganizaton from withholding from any State or political subdivision thereof the portion of taxes which the railroad has collected from any tenant.