S. 407 — Introduced in Senate

II 115th CONGRESS 1st Session S. 407 IN THE SENATE OF THE UNITED STATES February 16, 2017Mr. Crapo (for himself, Ms. Stabenow, Mr. Inhofe, Mr. Wyden, Mr. Moran, Mr. Schumer, Mr. Wicker, Mr. Casey, Mr. Roberts, Mr. Blumenthal, Mr. Isakson, Mr. Heller, and Mr. Thune) introduced the following bill; which was read twice and referred to the Committee on Finance 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. 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.