Both sides have signed this (Bill Ranking)
H.R. 516 · 119th Congress (2025-2026)
180 members · Left 56 · Center 18 · Right 106 (Bill Ranking)
| Sponsor | Rep. Kelly, Mike (R-PA) (Introduced 01/16/2025) |
|---|---|
| Sponsor Voting Record | Lean right · DW-NOMINATE +0.38 · measured from every roll-call vote this member has cast (voteview.com) (Sponsor Ranking) |
| Support |
LLLCLRR support across the spectrum: 180 members signed on (Bill Ranking) this bill: sponsor + current cosponsors, each once |
| Committees | House - Ways and Means Committee |
| Latest Action | 01/16/2025 Referred to the House Committee on Ways and Means. |
| Roll Call Votes | There have been no roll call votes |
| Source | view on congress.gov → |
Introduced in House (01/16/2025)
This bill increases the annual limit on the tax credit for qualified railroad track maintenance expenses (also referred to as the short line railroad tax credit) and expands eligibility for claiming the credit.
Under current law, the tax credit is limited each tax year to $3,500 multiplied by the sum of the number of miles of railroad track owned or leased by the taxpayer (miles owned or leased) and the number of railroad track miles assigned to the taxpayer by a Class II or III railroad (miles assigned). This bill increases the annual limit to $6,100 multiplied by the sum of miles owned or leased and miles assigned. The $6,100 amount used in the calculation of the tax credit limit is adjusted for inflation for tax years beginning after 2025.
The bill also expands eligibility for the tax credit to include gross expenses for maintaining railroad tracks owned or leased as of January 1, 2024. Under current law, the tax credit is limited to gross expenses for maintaining railroad tracks owned or leased as of January 1, 2015.
119 HR 516 IH: To amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit. U.S. House of Representatives 2025-01-16 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I119th CONGRESS1st SessionH. R. 516IN THE HOUSE OF REPRESENTATIVESJanuary 16, 2025Mr. Kelly of Pennsylvania (for himself and Mr. Thompson of California) introduced the following bill; which was referred to the Committee on Ways and MeansA BILLTo amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.
1.Modification of railroad track maintenance credit (a)Increase in credit amount (1)In generalSection 45G(b)(1)(A) of the Internal Revenue Code of 1986 is amended by striking $3,500 and inserting $6,100. (2)Inflation adjustmentSection 45G of such Code is amended by adding at the end the following new subsection: (f)Inflation adjustment (1)In generalIn the case of a taxable year beginning after 2025, the $6,100 amount in subsection (b)(1)(A) shall be increased by an amount equal to— (A)such dollar amount, multiplied by (B)the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting calendar year 2024 for calendar year 2016 in subparagraph (A)(ii) thereof. (2)RoundingAny increase determined under paragraph (1) which is not a multiple of $100 shall be rounded to the nearest multiple of $100.. (b)Qualified railroad track maintenance expendituresSection 45G(d) of the Internal Revenue Code of 1986 is amended by striking January 1, 2015 and inserting January 1, 2024. (c)Effective dateThe amendments made by this section shall apply to expenditures paid or incurred in taxable years beginning after December 31, 2024.
The bill's own words, from our database (synced from the GPO BILLS XML); paragraph breaks added at the bill's section boundaries, nothing else changed.
| Date | Chamber | All Actions |
|---|---|---|
| 01/16/2025 | Library of Congress | Introduced in House |
| 01/16/2025 | Library of Congress | Introduced in House |
| 01/16/2025 | House floor actions | Referred to the House Committee on Ways and Means. |
| Title Type | Title |
|---|---|
| Display Title | To amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit. |
| Official Title as Introduced | To amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit. |
There are no amendments to this bill.
* = Original cosponsor
| Committee | Activity |
|---|---|
| House - Ways and Means Committee | 01/16/2025 Referred To |
Policy Area: Taxation
No legislative subjects have been assigned yet.
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