A bill to amend the Internal Revenue Code of 1954 to extend the energy conservation investment tax credit to new diesel-electric locomotives.

Amends the Internal Revenue Code to allow a ten percent energy investment tax credit for diesel-electric locomotives of at least 2,200 horsepower purchased by a common carrier engaged in the trade or business of using rail transportation. Requires that such locomotives be at least 15 percent more fuel efficient than any locomotive replaced by the taxpayer.