Freight Rail Infrastructure Capacity Expansion Act of 2007
Last action on May 2, 2007Referred to the House Committee on Ways and Means.
Take Action
Summary
Freight Rail Infrastructure Capacity Expansion Act of 2007 - 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.
Lifecycle of the Bill
No events recorded for this stage yet.
