An act to provide for the orderly restructuring of the Milwaukee Railroad, and for the protection of the employees of such railroad.

[AI summary unavailable — showing source text] Milwaukee Railroad Restructuring Act - Authorizes the bankruptcy court to allow the abandonment of the lines of the Milwaukee Railroad if an employee ownership or employee-shipper ownership arrangement is not implemented by a specified date. Stipulates that, pending the expiration of the time for appeal of such an order, the court may authorize the termination of service on a line to be abandoned. Stipulates that such order may not be stayed. Directs the Interstate Commerce Commission to give preference to proceedings involving the sale or transfer of a line of a railroad in reorganization. Sets forth time limits regarding such proceedings. Authorizes a bankruptcy court, upon the date of enactment of this Act, to authorize the abandonment of lines of railroad in any case pending under the Bankruptcy Act. Stipulates that, pending the expiration of the time for appeal of such an order, the court may authorize the termination of service on a line to be abandoned. Stipulates that such an order may not be stayed. Authorizes an association of representatives of national railway labor organizations, employee coalitions, and shippers to submit to the Commission a single plan for converting…