Employee Protection and Railroad Financing Modification Act of 1980

[AI summary unavailable — showing source text] Railroad Employee Protection Modification Act of 1980 - Amends the Regional Rail Reorganization Act of 1973 to grant, to protected employees, a monthly displacement allowance for any calendar month within the period identified in this Act in which the employee is deprived of employment or is adversely affected with respect to compensation. Sets forth provisions for payment of such allowance. Specifies the duration of the monthly displacement allowance. Sets forth provisions for training and transfer of employees. Permits ConRail to offer a vacant position to not more than four protected non-contract employees. Directs ConRail to give such position to the protected employee accepting transfer whom ConRail considers to be best qualified for the particular position involved. Directs ConRail, the United States Railway Association, replacement operators, and acquiring railroads, as the case may be, to pay the allowances, expenses, and costs provided protected employees under this Act. Directs the Railroad Retirement Board to reimburse ConRail, the Association, replacement operators, and acquiring railroads for such allowances, expenses and costs up to an aggregate sum of $485,000,000. L…