Rail Transportation Improvement and Employment Act

[AI summary unavailable — showing source text] Rail Transportation Improvement and Employment Act - Authorizes the Secretary of Transportation to provide financial assistance for programs to reduce unemployment and to repair, rehabilitate, and improve railroad roadbeds and facilities. Provides that, within 60 days after enactment, the Secretary shall make funds available to any railroad which has laid off, furloughed, or otherwise reduced the number of maintenance-of-way and signal system maintenance employees between the period from June 1, 1974, through April 15, 1975, to the extent necessary to enable such a railroad to hire and maintain until June 1, 1976, sufficient numbers of such employees at prevailing wages to restore the size of its repair and rehabilitation work force to the maximum level maintained between June 1, 1974, and April 15, 1975. Requires that such employees be utilized by the railroad for priority categories of work as specified in this Act. Authorizes the Secretary until December 31, 1976, to provide financial assistance in the form of grants to States, political subdivisions, the Appalachian Regional Commission, or Regional Action Planning Commissions for a rehabilitation program involving a facility wi…