Bill Summary
 | S1125: 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 [0 comments] |
Amends the Internal Revenue Code to allow: (1) a tax credit for 25% of the cost of new qualified freight rail infrastructure property and new 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 2012.
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Additional Information
 S1125 at GovTrack
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 S1125 at the Library of Congress
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Sponsor
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Republican
Mississippi http://lott.senate.gov/ |
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