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Changes to Railroad Track Maintenance Tax Credit

This bill modifies the tax credit for railroad track maintenance. It increases the credit amount and introduces an annual inflation adjustment. This aims to support railway companies in infrastructure investments, potentially leading to improved freight and passenger transport.
Key points
The maximum tax credit for railroad track maintenance increases from $3,500 to $6,100.
An annual inflation adjustment will be applied to the credit amount to maintain its value over time.
These changes apply to expenditures paid or incurred in tax years beginning after December 31, 2024.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_516
Sponsor: Rep. Kelly, Mike [R-PA-16]
Process start date: 2025-01-16
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

To amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_516.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-01-16.

What are the main provisions?

Key points include:

  • The maximum tax credit for railroad track maintenance increases from $3,500 to $6,100.
  • An annual inflation adjustment will be applied to the credit amount to maintain its value over time.
  • These changes apply to expenditures paid or incurred in tax years beginning after December 31, 2024.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Kelly, Mike [R-PA-16].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Taxes Transport Economy