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Train CARS Act

Introduced: July 29, 2008 Introduced by: Durbin, Richard J. Democratic · Illinois See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 29, 2008
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S7633-7636)
Jul 29, 2008
Sponsor introductory remarks on measure. (CR S7633)
Jul 29, 2008
Introduced in Senate
 Plain-English summary Congressional Research Service

Creating American Rolling Stock Act of 2008 or the Train CARS Act - Authorizes the Secretary of Transportation to award grants to eligible applicants to purchase or rehabilitate domestically manufactured rolling stock for intercity passenger rail transportation. Prohibits Secretary approval of a grant project without a state rail plan.

Sets forth certain Buy American requirements.

Directs Amtrak to establish a Next Generation Corridor Equipment Pool Committee.

Amends the Internal Revenue Code to create an Intercity Passenger Rail Rolling Stock Account.

Allows a tax credit to a holder of a qualified Amtrak bond issued for projects to purchase or rehabilitate domestically manufactured rolling stock for intercity passenger rail transportation (rail infrastructure investment).

Requires the Comptroller General to study the potential costs, benefits, and economic impact of providing intercity passenger rail along a national railway electrification system.

Directs the Secretary of Labor to report to Congress on existing federal programs that could assist in the training of automotive, aviation, and manufacturing workers to transition to the railcar manufacturing industry.

What's happening now July 29, 2008

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S7633-7636)

 Committees of jurisdiction 1