A bill to amend the Internal Revenue Code of 1954 with respect to the treatment for purposes of the consolidated return regulations of stock in certain railroads which transferred property to ConRail.

Amends the Internal Revenue Code to specify that the stock of a railroad which transferred property to Conrail pursuant to the Regional Rail Reorganization Act of 1973 shall not be treated as worthless, for purposes of the consolidated return regulations, prior to the date on which a final determination as to the value of such stock is made by the special court established by such Act.