S 3742
109th Congress
Senate
Taxation
Commerce
Income tax
Leases
Minimum tax
Railroad engineering
Railroad equipment
Railroad freight operations
Tax credits
Tax deductions
Transportation and Public Works
Freight Rail Infrastructure Capacity Expansion Act of 2006
Introduced: July 26, 2006
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 26, 2006
Read twice and referred to the Committee on Finance.
Jul 26, 2006
Introduced in Senate
Plain-English summary
Freight Rail Infrastructure Capacity Expansion Act of 2006 - 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 2011.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1