Local Rail Service Amendments

[AI summary unavailable — showing source text] Local Rail Services Amendments - Requires, within 90 days of the effective date of the final system plan developed pursuant to the Railroad Reorganization Act, the collection and publication of information sufficient to permit an accurate determination of the revenues, costs, and operation of local rail lines as operating and economic units. Increases to $10,000,000 the amount authorized to be appropriated to the Interstate Commerce Commission for the use of the Rail Services Planning Office. Provides for the inclusion within the final system plan of local service railways previously excluded from the plan. Promulgates a five-year schedule of the Federal and State portions of the rail service continuation subsidies. Increases the Federal share to 100 percent for the first two years after the effective date of the final system plan. Provides for the allocation to States of rail service continuation subsidies in proportion to State rail mileage to be excluded under the final system plan. Authorizes States to use subsidy funds for the acquisition and rehabilitation of rail lines, for the preservation of rail lines for future use, and for providing alternatives to the termination of ra…