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S 3700 110th Congress Senate Transportation and Public Works Department of Transportation Excise tax Executive reorganization Government Operations and Politics Governmental investigations Highspeed ground transportation Income tax Railroad engineering Railroad finance Railroad passenger traffic Securities Tax credits Taxation

High-Speed Rail for America Act of 2008

Introduced: November 19, 2008 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
Nov 19, 2008
Read twice and referred to the Committee on Finance.
Nov 19, 2008
Sponsor introductory remarks on measure. (CR S10663)
Nov 19, 2008
Introduced in Senate
 Plain-English summary Congressional Research Service

High-Speed Rail for America Act of 2008 - Establishes within the Federal Railroad Administration the Office of High-Speed Passenger Rail (HSPR Office) , headed by the Associate Administrator for High-Speed Rail.

Requires the HSPR Office to: (1) assume responsibility for all high-speed rail activities currently carried out by the Office of Railroad Development; and (2) consult with the Secretary of Transportation to assist eligible entities to finance certain qualified high-speed intercity rail facility projects through the issuance of private activity bonds.

Amends the Internal Revenue Code to revise requirements for income tax-exempt qualified high-speed intercity rail facility bonds. Allows an income tax credit to holders of certain rail bonds that finance qualified super high-speed intercity rail facility projects and qualified rail infrastructure projects.

Directs the Secretary of the Treasury to study and report to Congress on the use of excise taxes to fund high-speed rail projects.

What's happening now November 19, 2008

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 2