This bill, titled the "Rails to Trails Landowner Rights Act," significantly amends the National Trails System Act to strengthen protections and requirements related to the interim recreational use of abandoned railway rights-of-way. It mandates that any State, political subdivision, or qualified private organization seeking to convert these corridors into trails must first provide notice to affected property owners and obtain their signed approval for the proposed interim use. Furthermore, these trail sponsors must disclose the legal status of occupancy and ensure agreements include fair market value compensation to landowners for any additional costs, including lost development opportunities and infrastructure movement.

The legislation also imposes new obligations on the Surface Transportation Board (STB) before it can issue notices for interim trail use. The STB must conduct a 90-day public notice and comment period, review and potentially narrow easement widths, and perform a detailed cost-benefit analysis considering impacts on safety, health, privacy, economic effects on landowners, and the likelihood of future rail service. Additionally, the STB is required to periodically review existing rails-to-trails corridors, making recommendations to Congress on maintenance and considering requests to adjust easement widths.

To further ensure proper management and address landowner concerns, the bill establishes an advisory committee under the Secretary of the Interior. This committee will be composed of 11 members, including a majority of landowners along existing trails, as well as representatives from rail carriers and trail sponsors. Its primary role is to recommend maintenance requirements for trail sponsors, with a report due to Congress within two years of the Act's enactment.