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- S.1125
S.1125: Freight Rail Infrastructure Capacity Expansion Act of 2007
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about taxation
- Introduced April 17, 2007
- Latest Major Action April 17, 2007
- See the two similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
19 (7 Democrats, 13 Republicans)
Bill Summary
Freight Rail Infrastructure Capacity Expansion Act of 2007 - Amends the Internal Revenue Code to allow: (1) a tax credit for 25% of the cost of new qualified freight rail infrastructure property and new qualified locomotive property; and (2) a taxpayer election to expense the cost of qualified freight rail infrastructure property (i.e., deduct all costs in the current taxable year). Terminates such credit and expensing election after 2012.
(Source: Library of Congress)
Bill Actions
Date | Description |
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Read twice and referred to the Committee on Finance.
|
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April 17, 2007 |
Introduced in the Senate by Trent Lott (R-Miss.) |