Rail Service Assistance Act of 1979

[AI summary unavailable — showing source text] Rail Service Assistance Act of 1979 - Amends the Department of Transportation Act to require the Secretary of Transportation, upon application by a State or a railroad in reorganization under the Bankruptcy Act, to provide loans or loan guarantees for rail freight assistance programs where rail operations on a mainline of a railroad serving agricultural producing and marketing activities in the northern tier of States have been classified as potentially subject to abandonment. Sets forth the criteria the Secretary must consider in determining whether the line of railroad subject to the application should receive financial assistance. Prohibits the discontinuance of service on any mainline of a railroad eligible for financial assistance under such a program unless: (1) discontinuance of service is approved by the Interstate Commerce Commission; and (2) no affected State or local authority opposes such action. Specifies a formula for United States' payments to railroads in reorganization which are required to continue service under this program, upon application of such railroads to the reorganization court. Requires the Secretary to establish a corrective action Task Force to develo…