A bill to amend the Urban Mass Transportation Act of 1964 to require that steel materials acquired for 5 years using financial assistance given under that act shall be produced in the United States and to establish regulations respecting such acquisitions.

Amends the Urban Mass Transportation Act of 1964 to require that steel materials or products which are acquired during the next five years using financial assistance provided under such Act be produced in the United States unless the Secretary of Transportation deems that the acquisition of such domestically produced materials would be inconsistent with the public interest or the cost of such acquisition would be unreasonable. Establishes standards for determining whether the price for domestically produced steel is unreasonable.