A bill to amend the "Railroad Revitalization and Regulatory Reform Act of 1976" and the "Regional Rail Reorganization Act of 1973".

Amends the Railroad Revitalization and Regulatory Reform Act of 1976 to increase the Federal share of the costs of rail service assistance programs for the fiscal years 1978 through 1981 under the Department of Transportation Act. Stipulates that the Federal share for such projects shall be 70 percent for fiscal year 1982. Increases the Federal share for rail service continuation projects during the second 12 month period after the date rail properties are conveyed to the Consolidates Rail Corporation pursuant to a final system plan under the Regional Rail Reorganization Act of 1973.

Increases the Federal share of the costs of providing mandatory rail passenger service under the Railroad Revitalization and Regulatory Reform Act (emergency operating assistance) during the 18 month period following the first 360 days of such mandatory operation.