H.R.2091 - Freight Rail Infrastructure Capacity Expansion Act of 2011

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: Freight Rail Infrastructure Capacity Expansion Act of 2011 as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
06/02/11
 
 
 
 
 
 
 

Sponsor

Representative

Leonard Boswell

D-IA

View Co-Sponsors (12)

Official Summary

Freight Rail Infrastructure Capacity Expansion Act of 2011 - Amends the Internal Revenue Code to allow: (1) a tax credit for 25% of the cost of new qualified freight rail infrastructure property and qualified locomotive property, and (2) a taxpayer election to expense the cost of qualified

Official Summary

Freight Rail Infrastructure Capacity Expansion Act of 2011 - Amends the Internal Revenue Code to allow:
(1) a tax credit for 25% of the cost of new qualified freight rail infrastructure property and qualified locomotive property, and
(2) a taxpayer election to expense the cost of qualified freight rail infrastructure property (i.e., deduct all costs in the current taxable year). Terminates such credit and expensing election after 2016. Requires compliance with federal wage rate requirements under the Davis-Bacon Act as a condition of eligibility for the tax credit and expensing allowance provided by this Act.

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