H.R. 7902 · 117th Congress
Freight RAILCAR Act of 2022
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
46 cosponsors · 16 D, 30 R
28 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Freight Rail Assistance and Investment to Launch Coronavirus-Era Activity and Recovery Act of 2022 or the Freight RAILCAR Act of 2022
What it does: CRS summary · Introduced in House · May 27, 2022
Freight Rail Assistance and Investment to Launch Coronavirus-Era Activity and Recovery Act of 2022 or the Freight RAILCAR Act of 2022
This bill provides a new tax credit through 2024 for 10% of freight railcar fleet modernization expenses (i.e., railcar replacement and modernization expenses for meeting fuel efficiency and performance standards). The bill provides that no more than 2,000 freight railcars per taxpayer may be taken into account for purposes of determining the credit in a taxable year.
The Department of the Treasury must report to Congress on the credit to provide information on the number of times the credit was claimed and the number of railcars scrapped or built as a result of the credit.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Freight RAILCAR Act of 2022
Also known as: Freight Rail Assistance and Investment to Launch Coronavirus-Era Activity and Recovery Act of 2022
Latest action (May 27, 2022): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: May 27, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.