HR 8082
116th Congress
House
Taxation
Business expenses
Congressional oversight
Energy efficiency and conservation
Income tax credits
Manufacturing
Railroads
Transportation safety and security
Freight RAILCAR Act of 2020
Introduced: August 21, 2020
Introduced by:
Schneider, Bradley Scott
Democratic
· Illinois
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 21, 2020
Referred to the House Committee on Ways and Means.
Aug 21, 2020
Introduced in House
Plain-English summary
Freight Rail Assistance and Investment to Launch Coronavirus-era Activity and Recovery Act of 2020 or the Freight RAILCAR Act of 2020
This bill establishes a new tax credit for the replacement and modernization of qualified freight railcars. Specifically, it allows a credit for 50% of the sum of the qualifying replacement or modernization amount, the qualifying scrap amount, and the qualifying railcar facility and technology modernization amount.
The bill defines qualified freight railcar as a freight railcar that meets significant improvement requirements for capacity, fuel efficiency, or performance.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1