S. 1532

119th CONGRESS 1st Session

To amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.

IN THE SENATE OF THE UNITED STATES · April 30, 2025 · Sponsor: Mr. Crapo · Committee: Committee on Finance

SEC. 1. Modification of railroad track maintenance credit

(a) Increase in credit amount
- Increase in credit amount
- (1) In general
  - of the Internal Revenue Code of 1986 is amended by striking $3,500and inserting $6,100. Section 45G(b)(1)(A)
  - In general
- (2) Inflation adjustment
  - (f) Inflation adjustment
    - (1) In general
      - In the case of a taxable year beginning after 2025, the $6,100 amount in subsection (b)(1)(A) shall be increased by an amount equal to—
        
        such dollar amount, multiplied by
        
        the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting for in subparagraph (A)(ii) thereof. calendar year 2024 calendar year 2016
    - (2) Rounding
      - Any increase determined under paragraph (1) which is not a multiple of $100 shall be rounded to the nearest multiple of $100.
  - Section 45G of such Code is amended by adding at the end the following new subsection:
(b) Qualified railroad track maintenance expenditures
- of the Internal Revenue Code of 1986 is amended by striking January 1, 2015and inserting January 1, 2024. Section 45G(d)
(c) Effective date
- The amendments made by this section shall apply to expenditures paid or incurred in taxable years beginning after December 31, 2024.