Railroad Service and Accountability Act of 1983

Railroad Service and Accountability Act of 1983 - Title I: Land Grant Income - Amends the Interstate Commerce Act to direct the Interstate Commerce Commission (ICC) to consider income from land grants in rail line abandonment and discontinuance proceedings. Directs the Commission to apportion equitably among lines of the rail carrier any income attributable to Federal or State land grants.

Title II: Land Grant Forfeitures - Requires railroads to forfeit land grant lands in proportion to rail service abandonments. Sets forth procedures for such forfeitures.

Requires that any lands or income from such lands received by States as a result of forfeiture be used to provide alternative transportation to persons affected by abandoned rail service.

Directs the Secretary of the Interior to conduct a survey to assess the value of land grant lands held by railroads and to periodically update such survey.

Title III: Railroad Service Protection - Authorizes the Commission to: (1) order the cessation or rescission of securities transactions of controlled rail carriers that are not in the public interest; and (2) order actions as necessary, including divestiture of control, for such carriers whose service to the public is impaired or threatened.

Repeals the authority of the ICC to regulate acquisition of control of certain carriers by a person that is not a carrier. Allows such transactions, also without ICC authorization, where the only parties are certain rail carriers whose aggregate gross revenues during a recent 12-month period did not exceed $10,000,000. Requires ICC authorization and approval when one rail carrier party to the transaction is controlled by, or is under common control with, a class I railroad.