Bill
Bill > HR2289
US HR2289
US HR2289Freight RAILCAR Act of 2021 Freight Rail Assistance and Investment to Launch Coronavirus-era Activity and Recovery Act of 2021
summary
Introduced
03/29/2021
03/29/2021
In Committee
03/29/2021
03/29/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to provide a tax credit to encourage the replacement or moderniza- tion of inefficient, outdated freight railcars, and for other purposes.
AI Summary
This bill, the Freight Rail Assistance and Investment to Launch Coronavirus-era Activity and Recovery Act of 2021 (also known as the Freight RAILCAR Act of 2021), proposes to amend the Internal Revenue Code to provide a 50% tax credit to encourage the replacement or modernization of inefficient, outdated freight railcars. The credit would apply to expenses related to qualifying railcar replacements, modernizations, and facility/technology upgrades. The bill includes specific definitions for terms like "qualified freight railcar" and "qualified railway supply company," and sets a deadline for claiming the credit by the end of 2025. The bill also requires the Secretary of the Treasury to report to Congress within 3 years on the usage and impact of the tax credit.
Committee Categories
Budget and Finance
Sponsors (38)
Brad Schneider (D)*,
Brian Babin (R),
Don Bacon (R),
Jim Banks (R),
Sanford Bishop (D),
Earl Blumenauer (D),
Suzanne Bonamici (D),
Mike Bost (R),
Rick Crawford (R),
Henry Cuellar (D),
Sharice Davids (D),
Rodney Davis (R),
Michael Doyle (D),
Drew Ferguson (R),
Mike Garcia (R),
Louie Gohmert (R),
Tony Gonzales (R),
Kay Granger (R),
Jaime Herrera Beutler (R),
Richard Hudson (R),
Jared Huffman (D),
John Katko (R),
Dan Kildee (D),
Ron Kind (D),
Darin LaHood (R),
Michael McCaul (R),
Peter Meijer (R),
Barry Moore (R),
Troy Nehls (R),
Jimmy Panetta (D),
Donald Payne (D),
Mike Rogers (R),
Linda Sánchez (D),
Kurt Schrader (D),
Terri Sewell (D),
Jackie Walorski (R),
Randy Weber (R),
Roger Williams (R),
Last Action
Referred to the House Committee on Ways and Means. (on 03/29/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/house-bill/2289/all-info |
| BillText | https://www.congress.gov/117/bills/hr2289/BILLS-117hr2289ih.pdf |
| Bill | https://www.congress.gov/117/bills/hr2289/BILLS-117hr2289ih.pdf.pdf |
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