Emergency Rail Transportation Improvement and Employment Act

[AI summary unavailable — showing source text] Emergency Rail Transportation Improvement and Employment Act - Declares it to be the purpose of this Act to authorize the Secretary of Transportation to provide financial assistance to eligible applicants for programs designed to reduce unemployment and to repair and improve essential railroad roadbeds and facilities. Defines terms used in this Act. Directs the Secretary to make grants to eligible applicants for projects involving the repair, restoration, rehabilitation or improvement of roadbeds and facilities. Directs the Secretary to promulgate guidelines and procedures with respect to grant applications. Sets forth certain items which must be included in each application. Limits the use of grants made pursuant to this Act to the payment of wages and benefits earned by individuals employed in programs funded by this Act. Requires that jobs created pursuant to this Act be made available first to furloughed railroad maintenance employees, then to persons who have exhausted their unemployment benefits, to unemployed persons who are not eligible for such benefits, and to other unemployed or underemployed persons. States that roadbeds and facilities are eligible for project grants un…