Essential Rail Services Act

[AI summary unavailable — showing source text] Essential Rail Services Act - Title I: Findings, Purposes and Definitions - States that Congress finds that modern, efficient rail service is essential to interstate commerce and to national defense. States that the purpose of the Act is to provide Federal financial assistance for rehabilitation, maintenance, modernization, and any necessary restructuring of essential rail lines. Sets forth the definition of terms to be used in this Act. Title II: Interstate Railroad System - Requires the designation of an interstate railroad system which would identify main lines in the United States which must be upgraded to standards which would insure dependable operation of freight trains at speeds up to 60 miles an hour and passenger trains at speeds up to 80 miles an hour. Requires the Secretary of Transportation to provide within 2 years a report on the long term capital needs for railroads. Title III: Northeast Rail Line Corporation - Provides for the creation of a Northeast Rail Line Corporation. States that the corporation shall be a not-for-profit entity with 13 members on the Board of Directors appointed by the President, affected States, railroads, Amtrak, rail labor, and shippers. Se…