To provide for a settlement of the railroad labor-management disputes between certain railroads represented by the National Carriers' Conference Committee of the National Railway Labor Conference and certain of their employees.

Provides for settlement of certain railroad labor-management disputes.

Sets forth conditions which shall apply during the resolution of such disputes, including a return to work under the conditions in effect prior to April 17, 1991 (when the workers went on strike).

Directs the President to appoint a three-member Special Board promptly.

Allows any party to such disputes to request, within five days after such appointment, the Special Board to clarify or interpret any ambiguities in the recommendations of Presidential Emergency Board No. 219 (PEB). Requires the Special Board to issue a report addressing such requests within 15 days after its appointment.

Allows any party to such disputes, within ten days after issuance of such report, to request the Special Board to modify any specific recommendation of the PEB. (Limits Special Board consideration to issues on which the PEB made a specific recommendation.) Accords a presumption of validity to the PEB recommendations, and requires the party requesting the modification to show that the recommendation is demonstrably inequitable or was based on a material error or misunderstanding. Requires the Special Board, within 30 days after the ten-day modification request period, to complete its review and issue a final determination on all such requests. Makes such determination, after a ten-day period following its issuance, binding on the parties and having the same effect as though arrived at by their agreement under the Railway Labor Act. Allows any party, by December 31, 1991, to apply to the Special Board for clarification of its determination, if there is a disagreement as to its meaning. Requires the Special Board to reconvene and promptly issue a further determination on the matters raised for clarification, with or without a further hearing.

Precludes judicial review of any report or determination of the Special Board.

Declares that nothing in this joint resolution shall prevent a mutual written agreement to any different terms and conditions.