Interstate Railroad Act

Interstate Railroad Act - Title I: Findings, Purposes, and Definitions - Defines the terms in this Act.

Sets forth the findings of Congress with regard to the present railroad system in the United States.

Title II: Interstate Railroad System - Requires all rail carriers to provide the Secretary of Transportation and the Rail Services Planning Office of the Interstate Commerce Commission with copies of all current restrictions on train operations, including employees' operating timetables and all "slow orders."

Designates: (1) all rail lines operated by domestic railroad companies subject to traffic usage of at least twenty million gross ton-miles per year; or (2) those lines the inclusion of which is in the public interest as part of the initial Interstate Railroad System. Sets forth procedures for final designation of the Interstate Railroad System.

Authorizes appropriations for the use of the Secretary of Transportation and the Rail Services Planning Office.

Title III: Rehabilitation, Maintenance, and Modernization of Rail Lines - Directs the Secretary of Transportation to prescribe standards for maintenance of all rail lines. Provides that rail lines included within the System shall be maintained for smooth and dependable operation of freight trains at speeds up to sixty miles an hour.

Authorizes the Secretary to make grants for the construction and maintenance of railroad track, structures and improvements and signals. Provides for the distribution of funds under this Act and State apportionment. Prescribes the procedures for submission and approval of projects for railroad development.

Provides that the construction work on any approved project shall be subject to inspection and approval by the Secretary. Sets forth the minimum rates of wages and other provisions governing labor in the performance of construction work.

Establishes in the Treasury the Railroad Trust Fund, providing for transfer to the fund of amounts equivalent to specified taxes and charges. Describes the method of transfer, authorizes additional appropriations, and provides for the management of the fund.

Directs the Secretary to undertake a program of research and development into improving railroad track and roadbed. Authorizes appropriations of $10 million for such purposes for fiscal year 1976.

Title IV: Records, Reports, Administration, and Enforcement - Sets forth the recordkeeping requirements of each recipient of a grant under this Act. Requires the Secretary to report annually to Congress on his operations under this Act. Imposes criminal penalties for false statements made under this Act.

Enumerates the general administrative powers of the Secretary.

Establishes an advisory committee composed of one representative from each of the following organizations: (1) National Association of Regulatory Utility Commissioners; (2) National Governors Conference; (3) Association of American Railroads; (4) National Railroad Passenger Corporation; (5) Congress of Railway Unions; (6) Railway Labor Executive Association; (7) National Industrial Traffic League; and (8) National Association of Railroad Passengers. Requests the committee to monitor the activities of the Secretary pursuant to this Act and submit an annual report evaluating the effectiveness of this Act to the Secretary, the Congress, and the public.

Authorizes to be appropriated to the Secretary such sums as necessary for administration and enforcement of this Act, not to exceed $10,000,000 in any one fiscal year.