Freight Rail Shipping Fair Market Act

To create a fair market in freight rail and to reauthorize the Surface Transportation Board, and for other purposes. 1. Short title; table of contents (a) Short title This Act may be cited as the Freight Rail Shipping Fair Market Act (b) Table of contents The table of contents for this Act is as follows: Sec. 1. Short title; table of contents. Title I—Administrative Provisions Sec. 101. Authorization of appropriations. Sec. 102. Railroad-Shipper Transportation Advisory Council. Sec. 103. Rail transportation policy. Sec. 104. General definitions. Sec. 105. Updated study on competition in the United States freight railroad industry. Sec. 106. NAS study on environmental benefits of a robust rail system. Title II—Service Delivery Sec. 201. 10-year review of commodity exemptions. Sec. 202. Streamlining rate reviews to provide competitive rail service. Sec. 203. Service delivery standards in contracts. Sec. 204. Leveling the playing field on demurrage charges. Sec. 205. Minimum service delivery standards for common carrier transportation, service, and rates. Sec. 206. Updating STB emergency powers. Sec. 207. Support for freight car GPS and other telemetry systems. Sec. 208. Study on short line railroad access to multiple Class I railroads. Sec. 209. Study on supply chain data constraints that impede the flow of freight. Sec. 210. Rate protection during emergencies. Sec. 211. Updated fines. Title III—Passenger Rail Sec. 301. Passenger-Freight Rail Transportation Advisory Council. Sec. 302. Passenger rail considerations in transactions involving rail carriers. I Administrative Provisions 101. Authorization of appropriations Section 1305 of title 49, United States Code, is amended to read as follows: 1305. Authorization of appropriations (a) In general There are authorized to be appropriated for the activities of the Board— (1) $48,000,000 for fiscal year 2023; (2) $50,250,000 for fiscal year 2024; (3) $50,000,000 for fiscal year 2025; (4) $52,500,000 for fiscal year 2026; and (5) $55,000,000 for fiscal year 2027. (b) Set-Aside for passenger rail program From the amounts authorized in subsection (a), the Surface Transportation Board shall set aside at least 5 percent of such amounts for each fiscal year consistent with the passenger rail program established under section 22309 of the Passenger Rail Expansion and Rail Safety Act of 2021 ( 49 U.S.C. 1301 (c) Set-Aside for studies From the amounts authorized in subsection (a), the Surface Transportation Board shall set aside up to $1,000,000 for each of fiscal years 2023 and 2024 for each study authorized in sections 105, 106, and 210. . 102. Railroad-Shipper Transportation Advisory Council Section 1325(a) of title 49, United States Code, is amended— (1) by striking 19 members, of which 15 members 24 members, of which 18 members (2) in paragraph (3)— (A) by striking 6 members 9 members (B) in subparagraph (A) by striking and (C) in subparagraph (B) by striking the period and inserting a semicolon; and (D) by adding at the end the following: (C) 1 shall be a representative of a nonprofit employee organization; (D) 1 shall be a representative of a rail car lessor; and (E) 1 shall be a representative of a port authority. . 103. Rail transportation policy Section 10101 of title 49, United States Code, is amended to read as follows: 10101. Rail transportation policy In regulating the freight and intercity passenger railroad industry, it is the policy of the United States Government— (1) to allow, to the maximum extent possible, competition and the demand for services to establish reasonable rates for transportation by rail; (2) to minimize the need for Federal regulatory control over the rail transportation system and to require fair and expeditious regulatory decisions when regulation is required; (3) to promote a safe and efficient rail transportation system by allowing rail carriers to earn adequate revenues, as determined by the Board; (4) to ensure the development and continuation of a sound freight and passenger rail transportation system with effective competition among rail carriers and with other modes, to meet the needs of the public and the national defense; (5) to preserve and improve passenger rail service; (6) to foster sound economic conditions in transportation and to ensure effective competition and coordination between rail carriers and other modes; (7) to maintain reasonable rates where there is an absence of effective competition and where rail rates provide revenues which exceed the amount necessary to maintain the rail system and to attract capital; (8) to reduce regulatory barriers to entry into and exit from the industry; (9) to operate transportation facilities and equipment without detriment to the public health and safety; (10) to encourage honest and efficient management of railroads; (11) to require rail carriers, to the maximum extent practicable, to rely on individual rate increases, and to limit the use of increases of general applicability; (12) to encourage fair wages and safe and suitable working conditions in the railroad industry; (13) to prohibit predatory pricing and practices, to avoid undue concentrations of market power, and to prohibit unlawful discrimination; (14) to ensure the availability of accurate cost information in regulatory proceedings, while minimizing the burden on rail carriers of developing and maintaining the capability of providing such information; (15) to encourage and promote energy conservation; (16) to provide for the expeditious handling and resolution of all proceedings required or permitted to be brought under this part; and (17) to promote freight and passenger rail growth and to resolve conflicts between freight and passenger rail. . 104. General definitions Section 10102 of title 49, United States Code, is amended— (1) by redesignating paragraphs (4), (5), (6), (7), (8), (9), and (10) as paragraphs (5), (6), (7), (8), (9), (10), and (11), respectively; (2) by inserting after paragraph (3) the following: (4) essential commodities (A) shipments to and from military installations; (B) materials necessary for clean water treatment; and (C) energy commodities necessary for energy reliability; ; and (3) in paragraph (7), as so redesignated— (A) in subparagraph (B) by striking and (B) in subparagraph (C) by striking the semicolon and inserting ; and (C) by adding at the end the following: (D) any form of nonhighway interstate ground transportation that runs on rails or electromagnetic guideways, including high speed ground transportation systems that connect metropolitan areas, without regard to whether such systems use new technologies not associated with traditional railroads; . 105. Updated study on competition in the United States freight railroad industry (a) Updated study The Surface Transportation Board shall review and update the study included in the final report published in January, 2010, titled An Update to the Study of Competition in the U.S. Freight Railroad Industry (b) Scope of study In carrying out the review under subsection (a), the Board shall refine the scope of the updated study, as appropriate. (c) Report Not later than 2 years after the date of enactment of this Act, the Board shall submit to the Committee on Transportation and Infrastructure of the House of Representatives and the Committee on Commerce, Science, and Transportation of the Senate the study required under subsection (a). 106. NAS study on environmental benefits of a robust rail system (a) Study The Surface Transportation Board shall seek to enter into a contract with the National Academies to conduct a study that identifies and measures the environmental benefits of moving freight and passengers by rail compared to other modes of transportation and identify ways the Board can incentivize the rail industry to maximize such environmental benefits. (b) Report Any agreement entered into under subsection (a) shall require that the National Academies not later than 2 years after the date of enactment of this Act, submit to the Board, the Committee on Transportation and Infrastructure of the House of Representatives and the Committee on Commerce, Science, and Transportation of the Senate a final report containing the study conducted pursuant to subsection (a). II Service Delivery 201. 10-year review of commodity exemptions Section 10502 of title 49, United States Code, is amended— (1) in subsection (a) by striking , to the maximum extent consistent with this part, (2) by adding at the end the following: (h) (1) Beginning on the date that is 1 year after the date of enactment of the Freight Rail Shipping Fair Market Act (2) Not later than 180 days after the date on which a determination to revise or revoke each exemption is made, the Board shall submit to the Committee on Transportation and Infrastructure of the House of Representatives and the Committee on Commerce, Science, and Transportation of the Senate a report containing such determination. . 202. Streamlining rate reviews to provide competitive rail service Section 10704(d) of title 49, United States Code, is amended in paragraph (1) by adding at the end the following: The Board shall review such procedures and identify revisions that could improve the timeliness of Board decisions under this chapter taking into account due process and differences in geography and, not later than 270 days after the date of enactment of the Freight Rail Shipping Fair Market Act . 203. Service delivery standards in contracts Section 10709 of title 49, United States Code, is amended— (1) by redesignating subsections (d) through (g) as subsections (e) through (h), respectively; (2) by inserting after subsection (c) the following: (d) Notwithstanding subsection (c), a contract entered into under this section shall include service delivery standards and appropriate remedies as a result of a failure to meet service delivery standards. Such service delivery standards and remedies may not be superseded by any other contractual clause. ; and (3) in subsection (e)(1), as redesignated by paragraph (1), by inserting , including any service delivery standards and requisite remedies, for the transportation of agricultural products 204. Leveling the playing field on demurrage charges (a) In general Section 10746 of title 49, United States Code, is amended— (1) by striking A rail carrier providing (a) Computation of rail carrier demurrage charges A rail carrier providing ; and (2) by adding at the end the following: (b) Computation of private rail car owner or lessee demurrage charges A private rail car owner or lessee that transports goods, including agricultural commodities and other essential commodities— (1) shall compute demurrage charges, and establish rules related to those charges, in a way that fulfills the national needs related to— (A) freight car use and distribution; and (B) the efficient use of private freight cars provided to rail carriers for transportation of property; and (2) notwithstanding section 10501, shall be subject to the jurisdiction of the Board if such private rail car owner or lessee has provided a rail car to a rail carrier and assessed demurrage charges upon the rail carrier. (c) Reporting requirement Class I railroad carriers, private car owners, and rail car lessees shall electronically, in a format prescribed by the Board, report demurrage charges assessed under this section to the Board on a quarterly basis and the Board shall make any information reported under this subsection publicly available. . (b) Rulemaking deadline for demurrage (1) Rulemaking Not later than 2 years after the date of enactment of this Act, the Surface Transportation Board shall complete a rulemaking to implement section 10746 of title 49, United States Code, as amended by this section. (2) Consultation In carrying out the rulemaking under subsection (a), the Board shall consult with the Federal Energy Regulatory Commission, the Secretary of Agriculture, the Administrator of the Environmental Protection Agency, and the heads of other applicable Federal agencies to determine essential commodities. (c) Applicability The amendments made by this section shall apply to any demurrage occurring after the effective date of the rulemaking completed under subsection (b). 205. Minimum service delivery standards for common carrier transportation, service, and rates Section 11101 of title 49, United States Code, is amended— (1) in subsection (a)— (A) by striking A rail carrier (1) A rail carrier (B) by inserting , in a manner that provides timely, efficient, and reliable rail service that fulfills the shipper’s reasonable service requirements on reasonable request (C) by adding at the end the following: (2) In determining whether a rail carrier has met the obligations of this section with respect to the provision of transportation or services on reasonable request, the Board shall consider— (A) the effects of changes in the frequency of transportation or service, and the availability and maintenance of reasonable local service schedules and delivery windows, on the provision of reasonable transportation service to the person requesting service; (B) the effects of reduction in employment levels, including— (i) clerical, customer service, maintenance, dispatch, yard, and train and engine service employees; (ii) changes in train or yard crew availability; and (iii) the consolidation or shifting of crews across or within service territories; (C) the effects of rail carrier reduction in equipment and the availability of equipment, maintenance of equipment, or railroad infrastructure, lines and yards, or shifting of equipment across or within service territories or customer and commodity groups to the person requesting transportation or service; (D) whether the service reasonably meets the local operational and service needs of the person requesting transportation or service; (E) the provision of rail infrastructure, rail equipment, or other rail related resources by the person requesting transportation or service to support the transportation or service; (F) whether any conditions imposed by the rail carrier as requirements for service are required to meet the local service requirements of the person requesting service or permit the rail carrier to recover variable costs of providing the requested transportation or service; and (G) how the carrier is handling equipment owned or leased by the person requesting transportation or service. ; (2) in subsection (b)— (A) in the matter preceding paragraph (1) by striking shall be shall (B) in paragraph (1)— (i) by inserting be in writing (ii) by striking receipt of the request; or receipt of the request, or be promptly made available in electronic form; (C) by striking paragraph (2) and inserting the following: (2) include timely, efficient, and reliable service delivery standards; (3) include remedies for when such service delivery standards are not met; and (4) include reasonable transit or cycle times consistent with the reasonable needs of the person on whose behalf the request is made for the timely, efficient and reliable receipt, transportation, and delivery of property. ; (3) in subsection (f) by inserting , including defining minimum service delivery standards. The Board may establish such standards by commodity implement this section (4) by adding at the end the following: (g) Any proceeding initiated under this section— (1) in order to consider an alleged violation of this section by a rail carrier, shall be expedited by the Board, and completed not later than 180 days after the initiation of such proceeding or, upon the request of a party when necessary to develop a record for the decision of the Board, not later than the end of a reasonable extension granted by the Board; and (2) in order to obtain service terms required under subsection (b), shall be completed not later than 45 days after the initiation of such proceeding. (h) In addition to the remedies provided under section 11701, if the Board determines that a rail carrier has not met the obligations of this section by failing to provide transportation or services on a reasonable request, the Board may prescribe reasonable transit or cycle times to be established for equipment owned or leased by the person making the request. . 206. Updating STB emergency powers Section 11123(a) of title 49, United States Code, is amended— (1) in paragraph (4)(C) by striking or (2) in paragraph (5) by striking the period at the end and inserting ; or (3) by adding at the end the following: (6) require— (A) the acquisition or return to service of locomotives, freight cars, or other vehicles; (B) additional capacity on property owned by the rail carrier, including sidings to reduce congestion; and (C) returning furloughed employees to service. . 207. Support for freight car GPS and other telemetry systems (a) Policy It is the policy of the Federal Government to support private freight rail efficiency and the understanding of the shipper using such private rail of the location of the rail freight of such shipper by collaborating with private freight rail demonstration projects to resolve safety and other regulatory challenges and opportunities of GPS and other telemetry technology on freight rail cars. (b) Report Not later than 1 year after the date of enactment of this Act, the Surface Transportation Board and the Administrator of the Federal Railroad Administration, in consultation with the Secretary of Homeland Security, shall submit to the Committee on Transportation and Infrastructure of the House of Representatives and the Committee on Commerce, Science, and Transportation of the Senate a report summarizing the collaboration under subsection (a) on the safety and other regulatory challenges and opportunities that could impact the development and installation of GPS and other telemetry technology on freight rail cars. 208. Study on short line railroad access to multiple Class I railroads (a) Study The Comptroller General of the United States shall conduct a study on any existing contract language that prohibits or discourages additional interchange agreements or additional interchange traffic between Class I railroad carriers and Class II and III carriers. (b) Contents The study shall include— (1) information solicited from railroad carriers on the types and frequency of contract language that services to either prohibit or discourage new interchange agreements between a Class II or III railroad and a second Class I railroad or discourage rail traffic from interchanging with a second railroad, including how many Class II and Class III railroad carriers are prohibited or discouraged from developing new interchange agreements (or interchanging new or additional traffic outside of such agreements) with Class I railroad carriers with which such Class II and Class III railroad carriers do not interchange traffic; and (2) a discussion about the advantages and disadvantages of the prohibitions or discouragements described in paragraph (1) for various stakeholders, including Class I, II and III railroads, shippers, and the public. (c) Report Not later than 2 years after the date of enactment of this Act, the Comptroller General shall submit to the Committee on Transportation and Infrastructure of the House of Representatives and the Committee on Commerce, Science, and Transportation of the Senate a report containing the study conducted under subsection (a). 209. Study on supply chain data constraints that impede the flow of freight (a) Study Not later than 60 days after the date of enactment of this Act, the Surface Transportation Board shall seek to enter into an agreement with the National Academies to conduct a study on the United States supply chain that examines data constraints that impede the flow of rail cargo and add to supply chain inefficiencies and that identifies data sharing systems that can be employed to improve the functioning of the United States supply chain. (b) Contents The study carried out pursuant to subsection (a) shall include an identification of where chokepoints are most prominent in the United States supply chain, what common shipping data is created with each hand-off of a container through such supply chain, how such data with respect to such supply chain is stored and shared, and an analysis of existing and potential impediments to the free flow of supply chain information. (c) Information collection In conducting the study pursuant to subsection (a), the National Academies shall collect information from railroad carriers, vessel operating common carriers and non-vessel operating common carriers, marine terminal operators, commercial motor vehicle operators, chassis providers, ocean transportation intermediaries, custom brokers, freight forwarders, shippers and cargo owners, and relevant government agencies, including the Board, the Federal Maritime Commission, and Customs and Border Protection. (d) Report Any agreement entered into under subsection (a) shall require that, not later than 2 years after the date of enactment of this Act, the National Academies submit to the Committee on Transportation and Infrastructure of the House of Representatives and the Committee on Commerce, Science, and Transportation of the Senate, and make available on a publicly accessible website, a report containing— (1) findings of the study carried out pursuant to subsection (a); and (2) any recommendations for common data standards and policies to implement information sharing across the United States supply chain. 210. Rate protection during emergencies (a) Situations requiring immediate action To serve the public Section 11123 of title 49, United States Code, is amended— (1) by redesignating subsections (e) and (f) as subsections (f) and (g), respectively; and (2) by inserting after subsection (d), the following: (e) Notwithstanding any other provision of this subtitle, a Class I rail carrier subject to a Board order under this section, except for a Class I carrier that is serving as an alternative carrier as part of a Board remedy, may not increase rates on persons covered by such order during the period beginning on the date on which the Board determines under subsection (a) that a transportation emergency exists and ending on the date on which such emergency expires under this section. . (b) General civil penalties Section 11901 of title 49, United States Code, is amended— (1) by redesignating subsections (b) through (f) as subsections (c) through (g), respectively; and (2) by inserting after subsection (a) the following: (b) Any Class I rail carrier providing transportation subject to the jurisdiction of the Board under this part that increases rates during a transportation emergency in violation of section 11123(e) is liable to the United States Government for a civil penalty equal to 3 times the amount by which each such rate was increased. . 211. Updated fines (a) Analysis of civil penalties and fines (1) In general Not later than 180 days after the date of enactment of this Act, the Comptroller General of the United States shall conduct an analysis of the civil penalties and fines assessed under chapter 119 (A) a comparison of such civil penalties and fines to other civil penalties and fines assessed by Federal agencies with economic regulatory oversight over the railroad industry and other industries; and (B) an analysis of the amount of a civil penalty or fine that is necessary to provide the appropriate financial incentive for rail carrier compliance. (2) Report Upon completion of the analysis conducted under paragraph (1), the Comptroller General shall submit to the Surface Transportation Board, the Committee on Transportation and Infrastructure of the House of Representatives, and the Committee on Commerce, Science, and Transportation of the Senate a report that describes such analysis and includes any recommendations for changes to the amounts of the civil penalties or fines assessed under chapter 119 (b) Rulemaking Notwithstanding the amount of civil penalties and fines assessed under chapter 119 (c) Conforming amendment (1) In general Chapter 119 11909. Treatment of civil penalties and fines Upon the issuance of a final regulation to revise an amount of a civil penalty or fine assessed under this chapter pursuant to section 212 of the Freight Rail Shipping Fair Market Act . (2) Clerical amendment The analysis for chapter 119 11909. Treatment of civil penalties and fines. . III Passenger Rail 301. Passenger-Freight Rail Transportation Advisory Council (a) In general Chapter 13 (1) by redesignating section 1326 as section 1327; and (2) by inserting after section 1325 the following: 1326. Passenger-Freight Rail Transportation Advisory Council (a) Establishment; membership There is established the Passenger-Freight Rail Transportation Advisory Council (in this section referred to as the Council Freight Rail Shipping Fair Market Act (1) The members of the Council shall be appointed from among citizens of the United States who are not regular, full-time employees of the United States and shall be selected for appointment so as to provide as nearly as practicable a broad representation of the various segments of freight-railroad and passenger rail carriers. (2) 10 of the members shall be appointed from senior executive officers of organizations engaged in the freight railroad and passenger rail industries and shall be the voting members of the Council. Council action and Council positions shall be determined by a majority vote of the members present. A majority of such voting members shall constitute a quorum. Of such 10 voting members— (A) 4 shall be representatives of Class I railroads; (B) 4 shall be representatives of an intercity passenger railroad that operates over a host railroad, of whom at least 3 shall be representatives of Amtrak; (C) 1 shall be a representative of commuter passenger railroads; and (D) 1 shall be a representative of States which fund intercity passenger rail service. (3) The remaining 2 members of the Council shall serve in a nonvoting advisory capacity only, but shall be entitled to participate in Council deliberations. Of the remaining members— (A) 1 shall be a representative of rail passengers; and (B) 1 shall be a representative of a non-profit employee labor organization. (4) The Secretary of Transportation and the members of the Board shall serve as ex officio, nonvoting members of the Council. The Council shall not be subject to the Federal Advisory Committee Act (5 U.S.C. App.). A list of the members appointed to the Council shall be forwarded to the Chairmen and ranking members of the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Transportation and Infrastructure of the House of Representatives. (5) Each ex officio member of the Council may designate an alternate, who shall serve as a member of the Council whenever the ex officio member is unable to attend a meeting of the Council. Any such designated alternate shall be selected from individuals who exercise significant decision-making authority in the Federal agency involved. (b) Term of office The members of the Council shall be appointed for a term of office of 3 years, except that of the members first appointed— (1) 4 members shall be appointed for terms of 1 year; and (2) 4 members shall be appointed for terms of 2 years, as designated by the Chairman at the time of appointment. Any member appointed to fill a vacancy occurring before the expiration of the term for which the member's predecessor was appointed shall be appointed only for the remainder of such term. A member may serve after the expiration of his term until his successor has taken office. Vacancies on the Council shall be filled in the same manner in which the original appointments were made. No member of the Council shall be eligible to serve in excess of two consecutive terms. (c) Election and duties of officers The Council Chairman and Vice Chairman and other appropriate officers of the Council shall be elected by and from the voting members of the Council. The Council Chairman shall serve as the Council's executive officer and shall direct the administration of the Council, assign officer and committee duties, and shall be responsible for issuing and communicating the reports, policy positions and statements of the Council. In the event that the Council Chairman is unable to serve, the Vice Chairman shall act as Council Chairman. (d) Expenses (1) Travel expenses The members of the Council shall receive no compensation for services, but upon request by the Council Chairman, based on a showing of significant economic burden, the Secretary of Transportation or the Chairman of the Board, to the extent provided in advance in appropriation Acts, may provide reasonable and necessary travel expenses for such individual Council members from Department or Board funding sources in order to foster balanced representation on the Council. (2) Reasonable and necessary expenses Upon request by the Council Chairman, the Secretary or Chairman of the Board, to the extent provided in advance in appropriations Acts, may pay the reasonable and necessary expenses incurred by the Council in connection with the coordination of Council activities, announcement and reporting of meetings, and preparation of such Council documents as are required or permitted by this section. (3) Additional authorities To enable the Council to carry out activities— (A) the Council Chairman may request directly from any Federal agency such personnel, information, services, or facilities, on a compensated or uncompensated basis, as the Council Chairman determines necessary to carry out the functions of the Council; (B) each Federal agency may, in its discretion, furnish the Council with such information, services, and facilities as the Council Chairman may request to the extent permitted by law and within the limits of available funds; and (C) each Federal agency may, in its discretion, detail to temporary duty with the Council, such personnel as the Council Chairman may request for carrying out the functions of the Council, each such detail to be without loss of seniority, pay, or other employee status. (e) Meetings The Council shall meet at least semi-annually and shall hold other meetings at the call of the Council Chairman. Appropriate Federal facilities, where available, may be used for such meetings. Whenever the Council, or a committee of the Council, considers matters that affect the jurisdictional interests of Federal agencies that are not represented on the Council, the Council Chairman may invite the heads of such agencies, or designees of such heads, to participate in the deliberations of the Council. (f) Functions and duties; annual report (1) Advice The Council shall advise the Secretary of Transportation, the Chairman of the Board, the Committee on Transportation and Infrastructure of the House of Representatives, and the Committee on Commerce, Science, and Transportation of the Senate with respect to rail transportation policy issues it considers significant, with particular attention to issues of importance to rail passengers, including on time performance of intercity passenger rail on freight-rail hosted routes and Amtrak access to the track and facilities of host railroads, including access for additional trains. (2) Annual report (A) In general Not later than 90 days after the last date of each fiscal year, the Council shall submit to the Secretary of Transportation and Chairman of the Board an annual report that— (i) describes the activities of the Council; (ii) describes the results of the efforts of the Council to resolve freight rail-passenger rail conflicts; and (iii) proposes any regulatory or legislative relief the Council considers appropriate. (B) Contents The Council shall include in the annual report— (i) such recommendations as the Council considers appropriate with respect to the performance of the Secretary of Transportation and Chairman of the Board under this chapter; (ii) recommendations with respect to the operation and effectiveness of meetings, industry and passenger rail developments relating to the Council's efforts, and such other information as the Council considers appropriate; and (iii) such other information as the Council considers appropriate. (C) Review Annual reports prepared under this paragraph shall— (i) be reviewed by the Secretary of Transportation and Chairman of the Board; and (ii) include such Secretary's and Chairman's views or comments relating to the accuracy of information therein relating to— (I) the efforts of the Council and the reasonableness of the positions and actions of the Council; and (II) any other aspects of the work of the Council as the Secretary and Chairman may consider appropriate. (3) Additional reports or policy statements The Council may prepare other reports or develop policy statements as the Council considers appropriate. Other such reports and statements may be submitted as the Council considers appropriate. . (b) Technical and conforming amendments (1) Clerical amendment The analysis for chapter 13 1326. Passenger-Freight Rail Transportation Advisory Council. 1327. Authority of the Inspector General. . (2) Technical correction The analysis for chapter 13 (A) by striking I—Establishment Subchapter I—Establishment (B) by striking II—Administrative Subchapter II—Administrative 302. Passenger rail considerations in transactions involving rail carriers (a) In general Chapter 113 (1) by redesignating sections 11327 and 11328 as sections 11328 and 11329, respectively; and (2) by inserting after section 11326 the following: 11327. Passenger rail considerations in transactions involving rail carriers In any case for which approval is sought for a transaction under section 11323, 11324, or 11325, the Board shall require the rail carrier to provide a description of how existing passenger rail service is accommodated, and how future passenger rail service, as contemplated in state rail plans authorized under chapter 227, section 25101, and efforts carried out under section 22101(h) of the Passenger Rail Expansion and Rail Safety Act of 2021 ( Public Law 117–58 . (b) Applicability The amendments made by subsection (2) shall apply to any rail carrier seeking approval under section 11323, 11324, or 11325 of title 49, United States Code, on or after the date of enactment of this Act. (c) Clerical amendment The analysis for chapter 113 (1) by redesignating the items relating to sections 11327 and 11328 as items relating to sections 11328 and 11329, respectively; and (2) by inserting after the item relating to section 11326 the following: 11327. Passenger rail considerations in transactions involving rail carriers. .

Summary: Freight Rail Shipping Fair Market Act This bill reauthorizes through FY2027 the Surface Transportation Board and otherwise revises provisions related to rail transportation policies, including policies related to freight rail transportation.