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US SB1532
Bill
AI Summary
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Increases the railroad track maintenance tax credit from $3,500 to $6,100 per mile of qualified railroad track
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Adds annual inflation adjustment to the credit amount beginning in taxable years after 2025, based on cost-of-living calculations with increases rounded to the nearest $100
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Updates the definition of qualified railroad track maintenance expenditures by changing the reference date from January 1, 2015 to January 1, 2024
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Applies to expenditures paid or incurred in taxable years beginning after December 31, 2024
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Introduced April 30, 2025 by Senators Crapo and Wyden, referred to the Committee on Finance
Legislative Description
A bill to amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.
Taxation
Last Action
Read twice and referred to the Committee on Finance.
4/30/2025