S.3749 - Freight Rail Infrastructure Capacity Expansion Act of 2010

A bill 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: A bill 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 2010 as introduced.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
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08/05/10
 
 
 
 
 
 
 

Official Summary

Freight Rail Infrastructure Capacity Expansion Act of 2010 - 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 2010 - 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 2015.

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Organizations Supporting S.3749

  • Brotherhood of Locomotive Engineers and Trainmen
  • Association of American Railroads

Organizations Opposing S.3749

  • None via MapLight at this time.




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