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H.R. 8082 · 116th Congress

Freight RAILCAR Act of 2020

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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

Freight Rail Assistance and Investment to Launch Coronavirus-era Activity and Recovery Act of 2020 or the Freight RAILCAR Act of 2020

What it does: CRS summary · Introduced in House · Aug 21, 2020

Freight Rail Assistance and Investment to Launch Coronavirus-era Activity and Recovery Act of 2020 or the Freight RAILCAR Act of 2020

This bill establishes a new tax credit for the replacement and modernization of qualified freight railcars. Specifically, it allows a credit for 50% of the sum of the qualifying replacement or modernization amount, the qualifying scrap amount, and the qualifying railcar facility and technology modernization amount.

The bill defines qualified freight railcar as a freight railcar that meets significant improvement requirements for capacity, fuel efficiency, or performance.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Freight RAILCAR Act of 2020

Also known as: Freight Rail Assistance and Investment to Launch Coronavirus-era Activity and Recovery Act of 2020

Latest action (Aug 21, 2020): Referred to the House Committee on Ways and Means.

Policy area: Taxation · Origin: House · Introduced: Aug 21, 2020

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.