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S. 203: BRACE Act of 2019

We don’t have a summary available yet.

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jan 24, 2019.

Building Rail Access for Customers and the Economy Act of 2019 or the BRACE Act of 2019

This bill permanently extends the tax credit for railroad track maintenance. The extension applies to expenditures paid or incurred during tax years beginning after 2017. Assignments of miles of railroad track, including related expenditures, for tax years beginning on or after January 1, 2018, and before January 1, 2019, must be treated as effective as of the close of such taxable year if they are made pursuant to a written agreement entered into within 90 days of the enactment of this bill.