summary
Introduced
03/03/2015
03/03/2015
In Committee
03/03/2015
03/03/2015
Crossed Over
Passed
Dead
01/03/2017
01/03/2017
Introduced Session
114th Congress
Bill Summary
Short Line Railroad Rehabilitation and Investment Act of 2015 Amends the Internal Revenue Code, with respect to the tax credit for railroad track maintenance, to: (1) expand the types of maintenance expenditures eligible for such credit, and (2) extend such credit through 2016.
AI Summary
This bill, the Short Line Railroad Rehabilitation and Investment Act of 2015, aims to support short line railroads by modifying and extending a tax credit for railroad track maintenance. Specifically, it extends the availability of this credit through January 1, 2017, and broadens the types of maintenance expenditures that qualify. Previously, the credit applied to maintaining railroad track, including roadbed and bridges, owned or leased by Class II or Class III railroads (which are smaller railroads that typically operate fewer than 350 miles of track) for tax years up to January 1, 2015. This bill updates the eligibility to include expenditures for maintaining railroad track owned or leased by these smaller railroads as of January 1, 2015, for tax years beginning after December 31, 2014, ensuring continued investment in their infrastructure.
Committee Categories
Budget and Finance
Sponsors (55)
Mike Crapo (R)*,
Lamar Alexander (R),
Kelly Ayotte (R),
Tammy Baldwin (D),
Michael Bennet (D),
Richard Blumenthal (D),
Roy Blunt (R),
John Boozman (R),
Barbara Boxer (D),
Maria Cantwell (D),
Shelley Moore Capito (R),
Ben Cardin (D),
Bob Casey (D),
Thad Cochran (R),
Susan Collins (R),
Chris Coons (D),
Steve Daines (R),
Joe Donnelly (D),
Dianne Feinstein (D),
Deb Fischer (R),
Al Franken (D),
Cory Gardner (R),
Kirsten Gillibrand (D),
Lindsey Graham (R),
Heidi Heitkamp (D),
Dean Heller (R),
John Hoeven (R),
James Inhofe (R),
Johnny Isakson (R),
Angus King (I),
Mark Kirk (R),
Amy Klobuchar (D),
Patrick Leahy (D),
Joe Manchin (I),
Ed Markey (D),
Jeff Merkley (D),
Barbara Mikulski (D),
Jerry Moran (R),
Lisa Murkowski (R),
Patty Murray (D),
Bill Nelson (D),
Gary Peters (D),
Jim Risch (R),
Pat Roberts (R),
Mike Rounds (R),
Chuck Schumer (D),
Jeanne Shaheen (D),
Debbie Stabenow (D),
Dan Sullivan (R),
Jon Tester (D),
John Thune (R),
Tom Udall (D),
Mark Warner (D),
Roger Wicker (R),
Ron Wyden (D),
Last Action
Read twice and referred to the Committee on Finance. (on 03/03/2015)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/114th-congress/senate-bill/637/all-info | 03/04/2015 |
| BillText | https://www.congress.gov/114/bills/s637/BILLS-114s637is.pdf | 07/05/2016 |
| Bill | https://www.congress.gov/114/bills/s637/BILLS-114s637is.pdf.pdf | 07/05/2016 |
| BillText | http://gpo.gov/fdsys/pkg/BILLS-114s637is/pdf/BILLS-114s637is.pdf | 03/18/2015 |
| Bill | http://gpo.gov/fdsys/pkg/BILLS-114s637is/pdf/BILLS-114s637is.pdf.pdf | 03/18/2015 |
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