A bill to provide for amortization of railroad grading and tunnel bores.

[AI summary unavailable — showing source text] Allows a taxpayer to claim a tax deduction under the Internal Revenue Code with respect to the amortization of the amortizable basis of his railroad grading and tunnel bores, such deduction to be in lieu of any depreciation deduction or other amortization deduction. Provides that the deduction allowable under this Act for any taxable year shall be an amount determined by amortizing ratably over a period of 50 years the amortizable basis of the railroad grading and tunnel bores of the taxpayer. (Amends 26 U.S.C. 185)…