S. 3742 (109th): Freight Rail Infrastructure Capacity Expansion Act of 2006

Introduced:
Jul 26, 2006 (109th Congress, 2005–2006)
Sponsor:
Sen. Trent Lott [R-MS]
Status:
Died (Referred to Committee)
See Instead:
This bill was re-introduced as S. 1125 (110th) on Apr 17, 2007.

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on July 26, 2006, in a previous session of Congress, but was not enacted.

Progress
Introduced Jul 26, 2006
Referred to Committee Jul 26, 2006
Cosponsors
10 cosponsors (6R, 4D) (show)
Committees

Senate Finance

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to amend the Internal Revenue Code of 1986 to provide incentives to encourage investment in the expansion of freight rail infrastructure capacity and to enhance modal tax equity.

Summary

No summaries available.

Text

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Last updated Jul 26, 2006.
11 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

7/26/2006--Introduced.
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.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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