MO SB1461

Creates a nonrefundable tax credit equal to 50% of qualified railroad track expenditures or qualified new rail infrastructure expenditures, effective for tax years beginning January 1, 2027

Eligible taxpayers include Class II or Class III short line railroads in Missouri and owners/lessees of rail sidings, industrial spurs, or industry tracks

Caps the tax credit at $5,000 per mile of track for maintenance expenditures and $1 million per new rail-served customer project for new infrastructure

Limits annual cumulative tax credits to $4.5 million for track maintenance expenditures and $5 million for new rail infrastructure expenditures statewide

Unused credits may be carried forward for up to 5 years and may be transferred to eligible customers, vendors, or other taxpayers; program sunsets 6 years after effective date unless reauthorized