Amtrak Improvement Act of 1981

Amtrak Improvement Act of 1981 - Amends the Rail Passenger Service Act to delete provisions relating to the ratio of Amtrak revenues to operating expenses.

Reduces to 13 the membership of the board of directors of the National Railroad Passenger Corporation (Amtrak).

Revises ownership rights for holders of Amtrak stock.

Directs Amtrak to report to the Secretary of Transportation every six months in regard to certain operating practices.

Prohibits Amtrak (including its corporate officers) from authorizing an expenditure or obligation under any appropriation or fund in excess of the amount available therein.

Increases the percentage of operating and capital costs to be paid by a State or agency requesting additional rail passenger service.

Repeals the requirement that Amtrak consult with States to be affected by selected fare increases.

Requires that Amtrak be reimbursed for the fully allocated cost of commuter rail passenger service provided under an agreement with a State (or local or regional transportation agency).

States that the Route and Service Criteria shall not apply to the reduction or discontinuance of certain routes and services.

Cancels the Inter-American train to the Mexican border.

Revises procedures for the downgrading or disposal of rail passenger service facilities.

Requires that revenues cover at least 50 percent of Amtrak's total costs, excluding capital costs, beginning in fiscal year 1982. Directs Amtrak to: (1) minimize the amount of Federal grants required to support rail passenger services; and (2) discontinue routes and services as necessary to comply with such Act.

Deauthorizes specified appropriations for: (1) the purchase of a self-propelled single car capable of carrying 50 or 60 passengers; (2) operating and capital expenses of rail passenger service for fiscal year 1982; (3) labor protection payments for fiscal year 1982; and (4) payment of the principal of obligations for fiscal year 1982.

Authorizes appropriations for specified Amtrak expenses for fiscal years 1982 through 1986.