Bill > H0375

This bill adds a new section to existing Idaho law to provide a nonrefundable tax credit for short line railroad companies that operate partly or wholly in Idaho. The credit is equal to 50% of qualified railroad expenditures, up to $3,500 per mile of railroad track owned or leased by the eligible taxpayer. Qualified expenditures include those for reconstruction, replacement, maintenance, or construction of railroad infrastructure such as tracks, bridges, and sidings. The credit can be carried forward for up to 5 years and can be transferred to eligible customers or vendors. The bill requires the state tax commission to promulgate rules governing the allowance of the credit.

Budget and Finance

Revenue and Taxation Committee (House)

https://legislature.idaho.gov/sessioninfo/2018/legislation/H0375/