Systemic Passenger Infrastructure and Network Overhaul through Financial Freedom Act - Transfers from the National Railroad Passenger Corporation (Amtrak) to the Secretary of Transportation title to all Amtrak property necessary for the operation of the main line of the Northeast Corridor between the District of Columbia and Boston, Massachusetts. Directs the Secretary to complete a competitive selection of an entity to maintain and dispatch service on the main line of the Northeast Corridor until the disposition and orderly transition of such operations.
Directs the Comptroller General to report to the Secretary on the capital requirements needed to ensure that the Northeast Corridor can be operated in a financially viable manner.
Requires the Secretary to choose the following option most appropriate for the disposition of Amtrak operations along the Northeast Corridor: (1) transfer of such operations to an interstate compact of Northeast Corridor states; (2) transfer of the operations to a new quasi-governmental corporation or to a private sector corporation; or (3) retention of ownership by the Secretary, with competitive franchising, by one or more entities, of the management and dispatching of service.
Requires the Secretary to retain, and Amtrak to transfer to the Secretary, all amounts appropriated by the federal government for Amtrak for FY2006.