Requires the Chicago, Rock Island, and Pacific Railroad Company to maintain its entire railroad system as it existed on September 1, 1979, for a period of 90 days, unless: (1) any discontinuance or abandonment is authorized by the Interstate Commerce Commission; and (2) no affected State (or local or regional transportation authority) opposes such action.
Directs the Secretary of Transportation, pursuant to the Emergency Rail Services Act of 1970, to guarantee trustee certificates of such railroad. Raises the ceiling in the outstanding aggregate principal amount of all such certificates.
Introduced in Senate
Referred to Senate Committee on Commerce, Science, and Transportation.
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