H.R.1789 - Comprehensive Rail Infrastructure Investment Act of 2009

To amend the Internal Revenue Code of 1986 to provide incentives to encourage investment in the expansion of freight rail infrastructure capacity and to enhance modal tax equity. view all titles (2)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to provide incentives to encourage investment in the expansion of freight rail infrastructure capacity and to enhance modal tax equity. as introduced.
  • Short: Comprehensive Rail Infrastructure Investment Act of 2009 as introduced.

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Introduced
 
House
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President
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03/30/09
 
 
 
 
 
 
 

Official Summary

Comprehensive Rail Infrastructure Investment Act of 2009 - Amends the Internal Revenue Code to: (1) allow a tax credit through 2012 for 25% of the cost of new qualified freight rail infrastructure property and qualified locomotive property; (2) allow a taxpayer election through 2012 to expe

Official Summary

Comprehensive Rail Infrastructure Investment Act of 2009 - Amends the Internal Revenue Code to:
(1) allow a tax credit through 2012 for 25% of the cost of new qualified freight rail infrastructure property and qualified locomotive property;
(2) allow a taxpayer election through 2012 to expense the acquisition, construction, or erection costs of qualified freight rail infrastructure property; and
(3) extend through 2012 the tax credit for qualified railroad track maintenance expenditures and modify requirements applicable to such expenditures.

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