Rolling Stock Utilization and Financing Act

[AI summary unavailable — showing source text] Rolling Stock Utilization and Financing Act - Title I: National Rolling Stock Information Service and Federal Railroad Equipment Obligation Insurance Fund - States that the purposes of this Act is: (1) to improve the utilization and distribution of rolling stock to meet the needs of commerce, users, shippers, the national defense, and the consuming public; (2) to assist railroads in acquiring additional rolling stock to provide fast and expeditious service to meet the increasing demands of the Nation's economy; and (3) to assist in achieving full employment by insuring adequate equipment necessary to transport the products of American industry. Defines the terms used in this Act. Creates a Federal Railroad Equipment Obligation Insurance Fund to be used to insure the interest on, and the unpaid principal balance of, any equipment obligation determined eligible for insurance. Establishes a Board to administer this Fund. Requires the Board before insuring any equipment obligation to determine in writing that specified limitations and conditions are met, including: (1) that the equipment obligation is secured by rolling stock to be financed or refinanced thereby; (2) that the terms of …