A joint resolution 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] Authorizes the Chicago, Milwaukee, Saint Paul, and Pacific Railroad Company (Milwaukee Railroad), in consultation with the Secretary of Transportation, to sell all or any portion of its system. Authorizes the Secretary to develop plans and participate in negotiations for, and make recommendations to the trustee of the railroad regarding, the sale or transfer of any portion of such system. Directs the Secretary, in developing such plans and entering into such negotiations, to give preference to financially responsible persons, including governmental entities, negotiating for the purchase of any line with the intent of providing common carrier service. Stipulates that any such proposal shall be submitted to the court having jurisdiction over the reorganization of the Milwaukee Railroad. Sets forth the conditions under which such bankruptcy court may approve the sale of such a line. Stipulates that by January 1, 1980, an association composed of representatives of national railway labor organizations, employees, and shippers may submit to the Interstate Commerce Commission a plan for converting all or a substantial part of the Milwaukee Railroad into an employee or employee-shipper own…