A bill to provide for the submission of a plan of rationalization of rail properties of the Consolidated Rail Corporation, and for other purposes.

(Measure passed Senate, amended)

Directs the United States Railway Association, by November 15, 1980, to make recommendations to Congress in regard to: (1) projected funding requirements of the Consolidated Rail Corporation (ConRail); and (2) the future structure and activities of ConRail in a defined region necessary or appropriate to meet specified goals.

Directs the Association, following review of the preliminary recommendations by the Secretary of Transportation and the Interstate Commerce Commission, to develop and submit to Congress, by March 1, 1981, specific final recommendations as regards: (1) future projected funding requirements of ConRail; (2) future structure and activities of ConRail in a defined region; and (3) legislative proposals to implement such recommendations. Directs the Association to identify measures designed to ensure a financially self-sustaining system in such region. Sets forth factors which the Association must consider in developing such recommendations.

Directs ConRail, by October 1, 1980, to submit to the Association its recommendations as regards: (1) proposed operating efficiencies; (2) rail property which might be proposed for abandonment or transfer to another railroad or qualified person; and (3) proposed legislative changes.

Lists others to whom the Association must transmit copies of such preliminary and final recommendations. Sets forth procedures for review and evaluation of such recommendations.

Exempts any action taken under this Act from the provisions of specified antitrust laws.

Authorizes appropriations to the Association to cover its administrative expenses for fiscal years 1981 and 1982.