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Rail News: Rail Industry Trends

Short-line tax credit bill garners 134 congressional co-sponsors, ASLRRA says


The co-sponsor scorecard on Capitol Hill for the short-line tax credit legislation now stands at 134. That’s the latest update from the American Short Line and Regional Railroad Association.

As of June 30, the Short Line Rehabilitation Tax Credit bill (H.R. 1132/S. 461) had attracted 106 co-sponsors in the House and 28 in the Senate. In addition, more than 1,000 shippers now support the legislation.

The bill proposes to extend the Section 45G railroad track maintenance credit, which is set to expire on Dec. 31, for three years. The short-line tax credit then would expire on Dec. 31, 2012. The legislation also would provide eligibility for new short lines and increase the credit limitation from $3,500 per mile of owned or leased track to $4,500.

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More News from 7/2/2009