A bill to make certain miscellaneous changes in the tax laws.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to: (1) provide that recipients of Federal grants for tuition and related expenses will not be denied a tax exclusion for such grants or expenses merely because they are required to perform future service as a Federal employee as a condition of such grant; (2) grant tax-exempt status upon an annuity contract purchased by the Uniformed Services University of the Health Sciences for any employee who is a member of the civilian faculty or staff of such university; (3) 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; (4) set forth rules for the valuation of certain stock in a transferor railroad subject to a determination of final value by a special court established by the Regional Rail Reorganization Act of 1973, for purposes of consolidated return regulations; (5) restore the availability of certain net operating loss carryovers to railroads in Conrail proceedings; and (6) allow a credit against the excise tax on domestic or imported distilled spirits, wines, and …