MI HB6222

Eliminates a 25% tax credit for railroad companies that was previously allowed before October 1, 2010, for maintenance and improvement of railroad rights of way.

Removes requirements for railroad companies claiming the credit to file annual reports detailing right of way work, including track laid, ballast installed, ties replaced, and signals installed.

Removes the requirement that railroad companies prioritize expenditures on hazardous material rail lines, especially in urban or residential areas, to qualify for the full 25% credit.

Removes the requirement for railroad companies to report detailed data on tonnages of hazardous materials handled in relation to other traffic on lines receiving tax credits.

Eliminates a provision requiring railroad companies receiving the tax credit to grant trackage rights to other railroad companies upon application, subject to safety and interstate commerce commission approval.