A bill to amend the Regional Rail Reorganization Act of 1973 in order to provide for the reorganization under such act of a railroad heretofore found to be reorganizable under section 77 of the Bankruptcy Act and later found not to be so reorganizable.

Provides, under the Regional Rail Reorgnaization Act, that if a U.S. district court determines that a railroad is reorganizable on an income basis under the Bankruptcy Act, and thereafter finds that such railroad is not reorganizable, it shall order that reorganization proceed unless such process is not fair and equitable to the railroad's estate.

Provides that such order may be appealed within five days following entry of such order, such appeal to be made to a special district court.