Emergency Rail Transportation Improvement and Employment Act

[AI summary unavailable — showing source text] Emergency Rail Transportation Improvement and Employment Act - Defines the terms used in this Act. Directs the Secretary of Transportation to provide grants to eligible applicants for projects to improve or repair railroad roadbeds and facilities which best fulfill objectives under this Act. Sets forth guidelines and procedures for the grant applications under this Act. Sets employment priorities to be followed in the hiring of unemployed and furloughed individuals under this Act. Provides for cost and benefit assessments of programs and projects assisted under this Act. Requires periodic reports to the Congress and the President on improving the Nations rail system. Authorizes the appropriation of up to $240,000,000 to carry out the provisions of this Act.…