To require the Federal Railroad Administration and the Federal Transit Authority to provide appropriate Congressional notice of safety audits conducted with respect to railroads and rail transit agencies.

(Sec. 1) This bill requires the Federal Railroad Administration: (1) within 10 days after it initiates a comprehensive safety assessment of an entity providing regularly scheduled intercity or commuter rail passenger service, to notify specified congressional committees and each Member of Congress representing a state in which the service that is the subject of the assessment being conducted is located, of the initiation of that assessment; and (2) within 90 days after completing such assessment, to report the findings of such assessment to such committees and Members.