HR 2116
110th Congress
House
Taxation
Income tax
Railroad engineering
Railroad freight operations
Tax credits
Tax deductions
Transportation and Public Works
Freight Rail Infrastructure Capacity Expansion Act of 2007
Introduced: May 2, 2007
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 2, 2007
Referred to the House Committee on Ways and Means.
May 2, 2007
Introduced in House
Plain-English summary
Freight Rail Infrastructure Capacity Expansion Act of 2007 - 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 2012.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1