S. 3742 · 109th Congress
Freight Rail Infrastructure Capacity Expansion Act of 2006
- Stage
- In committee
- Sponsor
- Trent Lott
- Introduced
- 2006-07-26
- Latest action
- 2006-07-26 · Introduced in Senate
Summary
Freight Rail Infrastructure Capacity Expansion Act of 2006 - Amends the Internal Revenue Code to allow: (1) a tax credit for 25% of the cost of new qualified freight rail infrastructure property and 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 2011.