Authorizes Tabor City (Town) to participate in State and federal railroad revitalization programs necessary to ensure continued or improved rail service to the Town as authorized in Article 2D (Railroad Revitalization) of GS Chapter 136. Allows the Town to enter into contracts with the Department of Transportation to provide for the nonfederal matching funds for railroad revitalization programs; sets out what the funds can be comprised of. Allows the Town, subject to GS 160A-209(d) (which allows property taxes to be levied for one or more of the listed purposes up to a combined rate of $1.50 on the $100 appraised value of property subject to taxation), to levy local property taxes for railroad revitalization programs. Limits Town funds for any project authorized by this act to 10% of total project costs.