Bus Regulatory Reform Act of 1981

Bus Regulatory Reform Act of 1981 - Sets forth the findings of Congress regarding a safe, competitive, and fuel-efficient motor bus system.

Requires the appropriate congressional committees to conduct periodic oversight hearings on the effects of this Act no less than annually until July 1, 1985.

Amends the Interstate Commerce Act to include the interstate motor carrier transportation of passengers in the overall transportation policy of the United States.

Revises the entry policy for motor carriers of passengers, motor contract carriers, and brokers of passengers.

Directs the Interstate Commerce Commission (ICC) to implement by regulation, within 180 days after the effective date of this Act, procedures to process expeditiously applications of motor carriers of passengers to remove certain operating restrictions. Requires the ICC to consider the adverse effects of such removals on commuter bus operations.

Allows a motor common carrier of passengers to transport special or charter passengers in the same motor vehicle with regular-route passengers.

Describes ratemaking procedures and the use of rate bureaus by motor carriers of passengers.

Amends the Motor Carrier Act of 1980 to increase the membership of the Motor Carrier Ratemaking Study Commission. Extends to January 1, 1984, the due date of such Commission's final report on the collective ratemaking process.

Sets forth the zone of pricing freedom for motor carriers of passengers. Permits the ICC to increase rates within specified percentage ranges. Declares that rates and fares implemented pursuant to this Act shall be subject to specified antitrust laws.

Prohibits ICC investigation or suspension of rates proposed by motor common carriers of passengers applicable to special or charter transportation.

Authorizes the ICC to grant, to motor carriers of passengers, temporary and emergency temporary authority to provide transportation.

Sets forth procedures by which carriers may discontinue or substantially reduce service on the intrastate portion of a route for which they have both interstate and intrastate authority.

Authorizes the ICC to prescribe rates, rules, or practices applicable to intrastate transportation provided by a motor common carrier of passengers under specified conditions. Establishes a rebuttable presumption that such rates, rules, or practices impose an unreasonable burden on interstate commerce if: (1) such a rate, rule, or practice results in intrastate rates lower than comparable interstate rates; (2) a carrier's revenues fall below the variable costs of providing such intrastate service; or (3) the State having jurisdiction over the rate, rule, or practice failed to act on a carrier's request within a specified time.

Directs the ICC to report to Congress on the results of its efforts to establish uniform standards and procedures applicable to carrier rates, rules, and practices.

Directs the Secretary of Transportation to establish minimum levels of financial responsibility for any motor vehicle operated in interstate or international commerce by a motor carrier of passengers.

Establishes civil penalties for violations of such financial responsibility provisions. Exempts school buses, taxicabs, and certain roundtrip commuter vehicles from such provisions.

Removes the issuance of securities by motor carriers of passengers from ICC jurisdiction.

Prohibits a State or subdivision thereof from levying a discriminatory or unreasonably burdensome tax on interstate motor carrier transportation.

Directs the Secretary to contract with the National Academy of Sciences to study the use of citizen band radios by the bus operator on motor vehicles providing intercity motor carrier passenger transportation. Requests the Academy to report to the Secretary and to Congress on such study.

Requires the Secretary and the ICC to report to the President and to Congress on the ownership, location, and adequacy of bus terminals.

Provides specified protection to employees whose employment is terminated by a motor common carrier of passengers (other than for cause) within ten years after enactment of this Act. Directs the ICC to maintain a list of jobs available with class I motor carriers of passengers.