BRACE Act

Bill: 114-hr-4626
Sponsor: full_name: Rep. Jenkins, Lynn [R-KS-2]
Introduced: 2016-02-25
Policy area: Taxation
Subjects: Business investment and capital

Income tax credits

Railroads
Latest action: action_date: 2016-02-25
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2016-02-25
action_desc: Introduced in House
text: <p><strong>Building Rail Access for Customers and the Economy Act or the BRACE Act</strong></p> <p>This bill amends the Internal Revenue Code to make permanent the tax credit for railroad track maintenance.</p>

tv_txt: I 114th CONGRESS 2d Session H. R. 4626 IN THE HOUSE OF REPRESENTATIVES February 25, 2016 Ms. Jenkins of Kansas (for herself, Mr. Blumenauer , Mr. Rodney Davis of Illinois , and Mr. Lipinski ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to permanently extend the railroad track maintenance credit.

1. Short title This Act may be cited as the Building Rail Access for Customers and the Economy Act or the BRACE Act . 2. Extension of the railroad track maintenance credit (a) In general Section 45G(f) of the Internal Revenue Code of 1986 is amended by striking , and before January 1, 2017 . (b) Effective date The amendment made by subsection (a) shall apply to expenditures paid or incurred in taxable years beginning after December 31, 2016.