A bill providing for the resolution of the current rail labor dispute in Connecticut and New York, and for other purposes.

Amends the Rail Passenger Service Act to provide for a resolution of the rail labor dispute between the Metropolitan Transportation Authority (New York), in conjunction with the Connecticut Department of Transportation, and the employees of such authorities represented by the United Transportation Union. Requires any work stoppage arising out of such dispute to terminate on the date of enactment of this Act.

Directs that rates of pay, rules, and working conditions shall be as agreed upon by the parties during the collective bargaining process with respect to the service transferred from Conrail to such authorities. Provides that the conditions under which such service was operated by Conrail shall govern over disputed issues until the arbitration panel issues its decisions. Establishes such arbitration panel, whose decision shall be binding upon the parties.