A bill to amend the Regional Rail Reorganization Act of 1973 to authorize the discontinuance of service and abandonment of certain lines of rail and to require the Consolidated Rail Corporation to provide rail service over certain light density lines.

Provides, under the Regional Rail Reorganization Act, that subject to specified conditions, rail service on any main line of railroad which is operated by a railroad in reorganization and which is not designated for conveyance to the Consolidated Rail Corporation or to other railroads pursuant to the final system plan may be discontinued and, if traffic from the discontinued line has been accommodated for a period of 180 days, abandoned.

Requires the Consolidated Rail Corporation to provide rail service over light density lines which are not designated for conveyance to the Corporation and have operated profitably in calendar years 1973 and 1974.

Directs the Comptroller General of the United States to conduct an audit and examination of the accounting procedures used whereby costs incurred beyond a particular light density line are assigned to such line in calculation of net operating gain and net operating loss of such line.

Authorizes to be appropriated to carry out this Act up to $38,000,000.