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Bill > HR7902
US HR7902
US HR7902Freight RAILCAR Act of 2022 Freight Rail Assistance and Investment to Launch Coronavirus-Era Activity and Recovery Act of 2022
summary
Introduced
05/27/2022
05/27/2022
In Committee
05/27/2022
05/27/2022
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Internal Revenue Code of 1986 to provide a tax credit to encourage the replacement or moderniza- tion of inefficient, outdated freight railcars, and for other purposes.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 2022 (also known as the Freight RAILCAR Act of 2022), proposes to amend the Internal Revenue Code to provide a 10% tax credit to encourage the replacement or modernization of inefficient, outdated freight railcars. The credit is limited to 2,000 qualified freight railcars per taxpayer, and the qualified railcars must meet certain criteria for capacity, fuel efficiency, or performance improvements. The bill also requires the Secretary of the Treasury to submit a report to Congress on the use of the credit, including the number of railcars scrapped, new railcars contracted, and new railcars built as a result of the credit.
Committee Categories
Budget and Finance
Sponsors (47)
Brad Schneider (D)*,
Brian Babin (R),
Don Bacon (R),
Jim Banks (R),
Stephanie Bice (R),
Sanford Bishop (D),
Earl Blumenauer (D),
Suzanne Bonamici (D),
Mike Bost (R),
Michael Burgess (R),
Jerry Carl (R),
Rick Crawford (R),
Henry Cuellar (D),
Sharice Davids (D),
Rodney Davis (R),
Michael Doyle (D),
Jake Ellzey (R),
Drew Ferguson (R),
Mike Garcia (R),
Louie Gohmert (R),
Tony Gonzales (R),
Kay Granger (R),
Sam Graves (R),
Kevin Hern (R),
Jaime Herrera Beutler (R),
Richard Hudson (R),
Jared Huffman (D),
Dan Kildee (D),
Ron Kind (D),
Darin LaHood (R),
Michael McCaul (R),
David McKinley (R),
Peter Meijer (R),
Greg Murphy (R),
Troy Nehls (R),
Jimmy Panetta (D),
Donald Payne (D),
Mike Rogers (R),
Tim Ryan (D),
Linda Sánchez (D),
Kurt Schrader (D),
Terri Sewell (D),
Dina Titus (D),
Beth Van Duyne (R),
Jackie Walorski (R),
Randy Weber (R),
Roger Williams (R),
Last Action
Referred to the House Committee on Ways and Means. (on 05/27/2022)
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/7902/all-info |
| BillText | https://www.congress.gov/117/bills/hr7902/BILLS-117hr7902ih.pdf |
| Bill | https://www.congress.gov/117/bills/hr7902/BILLS-117hr7902ih.pdf.pdf |
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