A bill authorizing appropriations for Amtrak for fiscal years 1986 and 1987, establishing a commission to study the financial status of Amtrak, and for other purposes.

(Measure passed House, amended, roll call #313 (290-128))

Amends the Rail Passenger Service Act to authorize appropriations for the National Railroad Passenger Corporation (Amtrak) for FY 1986.

Requires that certain appropriated funds designated by Amtrak for nonoperational capital projects be used to maintain Amtrak's rail system operations at the level in effect on the date of enactment of this Act (unless funds are otherwise available to maintain such operations at substantially the same level of service).

Establishes the National Railroad Passenger Corporation Financial Status Commission (the Commission) to study the financial performance of Amtrak, including its short-term and long-term capital needs and alternative funding mechanisms.

Requires the Commission to report to the Congress by March 30, 1986, regarding its finding and recommendations for legislation.

Authorizes appropriations for FY 1986.

Amends the Rail Passenger Service Act to provide that preferred stock issued by Amtrak to the Secretary of Transportation in return for Federal financial assistance shall be deemed to have been issued as of the date that Amtrak received such assistance (thus allowing Amtrak to take advantage of a certain depreciation allowance).

Permits Amtrak to participate in the contract air program administered by the General Services Administration in markets where service provided by Amtrak is competitive (thus including Amtrak among the competitors for the Federal employee travel market).

Sets February 15 as the annual deadline for Amtrak to submit specified data to the Congress.

Repeals the requirement that Amtrak enter into industry-wide rail carrier agreements regarding the operation of special and charter trains between specific routes.

Authorizes the Comptroller General to conduct annual audits of Amtrak activities (thus making such audits discretionary instead of mandatory).

Repeals Title VII of the Rail Passenger Service Act which provides for federally guaranteed emergency financial assistance to enable railroads to enter into operating contracts with Amtrak.

Amends the Railroad Revitalization and Regulatory Reform Act of 1976 to repeal the requirement that Amtrak and the Secretary of Transportation submit annual reports to the Congress regarding revenues and ridership of the Northeast Corridor Improvement Project.

Amends the Rail Passenger Service Act to repeal the requirement that Amtrak establish a Performance Evaluation Center.

Requires Amtrak to set a goal, beginning in FY 1986, of recovering at least 61 percent of its operating costs from its revenues (currently the statutory goal is to recover 50 percent of operating costs from revenues).

Requires Amtrak and representatives of Amtrak employees to negotiate changes in existing agreements that will result in cost savings to Amtrak, and requires the results of such negotiations to be reported to the Congress within a specified time.

Prohibits Amtrak from reducing the frequency of service on any line which, on May 1, 1985, had three or fewer trains operating per week.

Amends Title VIII of the Rail Passenger Service Act to authorize the submission of petitions to the Secretary for assistance to eliminate dangers posed by unsafe facilities to the property, passengers, or employees of Amtrak. Defines conditions under which the Secretary shall recommend that the Congress authorize funding for relocation or other remedial measures concerning such unsafe facilities.

Amends the Regional Rail Reorganization Act of 1973 to require the Railroad Retirement Board to issue a warning to any railroad which fails to notify the Board of job vacancies. Establishes a civil penalty to be imposed upon a railroad which is found guilty of two or more failures to notify the Board of job vacancies. Extends from four years to six years the expiration date of the central register of railroad employment maintained by the Board.

Amends the Rail Passenger Service Act to provide for Amtrak auto-ferry service of unoccupied vehicles when space is available.

Prohibits the withholding of State income taxes from a railroad employee by any non-domiciliary State where such employee spends less than 50 percent of his time or mileage.