H.R. 272 · 111th Congress
Freight Rail Infrastructure Capacity Expansion Act of 2009
- Stage
- In committee
- Sponsor
- Kendrick Meek
- Introduced
- 2009-01-07
- Latest action
- 2009-01-07 · Introduced in House
Summary
Freight Rail Infrastructure Capacity Expansion Act of 2009 - 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 2012.