A bill to amend the Internal Revenue Code of 1954 to make the investment credit for railroad property refundable.

Amends the Internal Revenue Code to make the investment tax credit for railroad property refundable. Requires each person receiving such refund to establish a separate account for amounts so received. Limits withdrawal from such account except to pay for: (1) acquisition of railroad property; (2) normal maintenance, rehabilitation, or capital improvements in connection with railroad property; or (3) assessments of the railroad retirement tax on employers.

Directs the Secretary of the Treasury to cover for lost revenues due to such refunds out of crude oil windfall profit tax receipts.