Rail Passenger Service Development Act

[AI summary unavailable — showing source text] Rail Passenger Service Development Act - Declares it to be the purpose of this Act to provide for the development of improved rail passenger services in transportation corridors in the United States placing major responsibility for development upon the States, local governments, and private agencies. Authorizes the Secretary of Transportation to determine the primary rail passenger transportation corridors in the United States and plan for their development. Directs the Secretary to establish organizations for each designated corridor, which will determine the extent of need for and the social costs of improved rail passenger transportation. Provides that the Secretary, upon finding need for improved rail passenger transportation service within a corridor, shall establish a Federal rail passenger service development corporation for such corridor. Provides for Boards of Directors to carry out the functions of each corporation. Sets forth the powers of such corporations. Enumerates the functions of such rail passenger service development corporations, including: (1) acquire by purchase or lease railroad property necessary for the development of rail passenger service; (2) contract fo…