Rail Collision Prevention Act - Requires each rail carrier that is a Class I railroad, that has inadequate safety performance, or that provides intercity passenger or commuter rail passenger transportation to develop and submit for Secretary of Transportation approval by December 31, 2014, a plan to implement a positive train control system that prevents rail collisions.
Requires implementation of such systems by December 31, 2012, in areas that have the highest safety risk due to shared track between commuter and freight rail.
Increases penalties for violations of rail safety regulations or orders issued by the Secretary, including violations related to rail accident reporting and hours-of-service.