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10/20/2009



Rail News: Rail Industry Trends

Short-line tax credit extension continues to garner congressional support, ASLRRA says


American Short Line and Regional Railroad Association (ASLRRA) lobbyists are closer to their congressional co-sponsorship goals for the Short Line Rehabilitation Tax Credit bill (H.R. 1132/S. 461). They have garnered 196 co-sponsors in the House and 45 in the Senate, according the ASLRRA’s “Views & News” newsletter issued last week.

H.R. 1132/S. 461 proposes to extend the Section 45G railroad track maintenance credit for short lines, which is set to expire on Dec. 31, for three years. 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.

The lobbyists are aiming for three “magic” numbers: 200, 218 and 51, according to the ASLRRA. Landing 200 House co-sponsors “will provide us with a unique opportunity for a press release that most bills do not have,” ASLRRA Legislative Policy Committee members said in a news item. In addition, 218 House co-sponsors and 51 Senate co-sponsors would surpass the halfway point of those chambers’ respective memberships.
 
“The House Ways and Means and Senate Finance committees are beginning to take the steps to draft the legislation that is our likely vehicle for an extension, a tax credit extenders bill,” the legislative policy committee members said. “It is important to show that our short-line tax credit bill still has momentum and a lot of support from both sides of the aisle, in both chambers.”


Contact Progressive Railroading editorial staff.

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