Railroad Safety and Accountability Act

This bill codifies the Railroad Safety Advisory Committee into law, making it a permanent advisory body within the Federal Railroad Administration to provide advice on railroad safety regulations. Sec. 2, Codification of the Railroad Safety Advisory Committee: The bill adds a new section to U.S. law requiring the Federal Railroad Administration to maintain the Railroad Safety Advisory Committee. The committee's duties include providing a forum for collaborative rulemaking, developing regulatory standards, identifying safety problems and cost-effective solutions, and other tasks determined by the Administrator. The committee must include at least one representative from each major stakeholder group, such as freight and passenger railroads, Amtrak, local governments, rail passenger organizations, labor organizations, safety-related employees, and suppliers. It may hire staff as needed. The Administrator can request the committee to form task-based working groups for specific advice, which must include experts and stakeholder representatives. The Administrator must meet quarterly with the committee to consult on regulatory programs, advise on emerging issues, and receive recommendations. The committee must submit an annual report to Congress. The Federal Advisory Committee Act applies, but the committee is exempt from automatic termination. Funding is authorized from the Highway Trust Fund as necessary.