(Source: Progressive Railroading, February 11, 2015)
The bill proposes to amend the Internal Revenue Code of 1986 to modify and extend the track credit through 2015, and perhaps beyond. The Section 45G provision enables regionals and short lines to claim a tax credit of 50 cents for every dollar invested in track rehabilitation, up to a cap equal to $3,500 times their total track miles. Jenkins and several other congressmen have introduced a similar bill the past several years in an effort to extend the tax credit.
Full story: Progressive Railroading