A bill to amend the Internal Revenue Code of 1954 to provide that the retirement-replacement-betterment method of accounting for property used by a common carrier (including a railroad switching company or a terminal company) is an acceptable method for determining depreciation allowances for income tax purposes.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to permit common carriers by railroad (including a railroad switching company or a terminal company) to use the retirement-replacement-betterment method of accounting for determining depreciation allowances for income tax deduction purposes.…