United StatesSenate Bill 1532S 1532
Amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.
Taxation
3 pages
- senate
- house
- president
Last progress April 30, 2025 (7 months ago)
Introduced on April 30, 2025 by Michael Dean Crapo
Sponsors (31)
House Votes
Vote Data Not Available
Senate Votes
Pending Committee
April 30, 2025 (7 months ago)Read twice and referred to the Committee on Finance.
Presidential Signature
Signature Data Not Available
AI Summary
This bill boosts the tax credit that helps pay for short line railroad track repairs. The yearly cap goes up from $3,500 to $6,100 per mile of track, with that $6,100 adjusting for inflation starting after 2025 . It also widens who can claim the credit by covering maintenance on tracks that were owned or leased as of January 1, 2024 (the old cutoff was 2015) .
These changes apply to money spent in tax years starting after December 31, 2024 .
- Who is affected: Owners and lessees of short line railroad tracks, including those with tracks owned or leased as of January 1, 2024 .
- What changes: Higher per‑mile credit cap ($6,100, inflation‑adjusted after 2025) and expanded eligibility to newer track ownership dates .
- When it starts: For expenditures in tax years beginning after December 31, 2024 .
Text Versions
Text as it was Introduced in Senate
ViewApril 30, 2025•3 pages
Amendments
No Amendments