Rail Service Improvement Act of 1981

[AI summary unavailable — showing source text] Conrail Private Sector Ownership Act of 1981 - Title I: General Provisions - Sets forth the findings of Congress with regard to freight and commuter rail service in the Midwest and Northeast United States. Title II: Conrail - Amends the Regional Rail Reorganization Act of 1973 to direct that any investment by the United States Railway Association in the securities of the Consolidated Rail Corporation (Conrail) after October 1, 1981, shall be by purchase of preferred stock. Requires that the Association determine the timing and amount of such purchases. Directs that any request by Conrail for the purchase of such stock shall be filed with the Association within a specified time period. Lists conditions that must be met by Conrail before the Association may purchase such stock. Permits the Association to modify such conditions and to cease purchasing such stock. Sets forth procedures by which Conrail may appeal the decision of the Association to cease stock purchases. Provides for benefits to be paid by employees of Conrail subsidiaries. Directs Conrail to issue annually stock to such employees and personnel in amounts equal to the amount of such benefits provided. Requires State and…