H.R. 721 — Introduced in House

I 115th CONGRESS 1st Session H. R. 721 IN THE HOUSE OF REPRESENTATIVES January 30, 2017Ms. 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.