Railroad Revitalization and Regulatory Reform Act of 1976

[AI summary unavailable — showing source text] Rail Services Act - States that the purposes of this Act are to revitalize the American railway system through regulatory reform, to change the procedure for considering merger and consolidation applications, to finance the rehabilitation of facilities and equipment and to provide for the continuation of service on light density rail lines that are necessary to continued employment. Title I: Rate Modernization - Revises provisions of the Interstate Commerce Act which provide for Interstate Commerce Commission prescription of the division of joint rates among carriers. Provides that the Commission shall establish rules for the conduct of division of such rates and fares. Directs the Commission to issue a final order in division cases within 270 days after the submission of a complete evidentiary case. Requires carriers to file all supporting evidence with their complaint in division proceedings and thereafter submit only rebuttal evidence. Provides new standards and procedures for the regulation of railroad rates subject to the jurisdiction of the Interstate Commerce Commission. States that Commission regulation of maximum rate levels will apply only when the railroad, publishing a …