S. 672Senate112th Congress (2011-2013)In Committee

Short Line Railroad Rehabilitation and Investment Act of 2011

Introduced March 29, 2011

Legislative Activity

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2 earlier actions
SenateIntro Referral Latest Action

Read twice and referred to the Committee on Finance.

March 29, 2011

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SenateIntro Referral

Introduced in Senate

March 29, 2011

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S1937)

March 29, 2011

SenateIntro Referral

Read twice and referred to the Committee on Finance.

March 29, 2011

Floor Debate

6 members

What members said about S. 672 on the floor

4 Republicans2 Democrats
Jeff Sessions
Sen. Jeff SessionsR-AL · Mar 29, 2011

Mr. President, I seek recognition today to introduce and speak in favor of the Finding Fugitive Sex Offenders Act of 2011, which would give administrative subpoena authority to the Director of the…

Susan M. Collins
Sen. Susan M. CollinsR-ME · Mar 29, 2011

Mr. President, I rise today to join with my colleague from Washington in introducing legislation, the Home Health Care Access Protection Act of 2011, to prevent future unfair administrative cuts in…

Olympia J. Snowe
Sen. Olympia J. SnoweR-ME · Mar 29, 2011

Mr. President, I rise today in support of the Selecting Employment Clusters to Organize Regional Success, SECTORS, Act, which Senator Sherrod Brown and I are introducing. This legislation would amend…

John D. Rockefeller IV
Sen. John D. Rockefeller IVD-WV · Mar 29, 2011

Mr. President, today I am introducing legislation to extend the Section 45G short line freight railroad tax credit. Section 45G creates an incentive for short lines to invest in track rehabilitation…

John D. Rockefeller IV
Sen. John D. Rockefeller IVD-WV · Mar 29, 2011

Mr. President, today I am introducing legislation to extend the Section 45G short line freight railroad tax credit. Section 45G creates an incentive for short lines to invest in track rehabilitation…

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Jon Kyl
Sen. Jon KylR-AZ · Mar 29, 2011

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Max Baucus
Sen. Max BaucusD-MT · Mar 29, 2011

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Bill Text

Latest available legislative text

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Introduced in SenateIssued March 29, 2011

II

112th CONGRESS

1st Session

S. 672

IN THE SENATE OF THE UNITED STATES

March 29, 2011

Mr. Reid (for Mr. Rockefeller (for himself, Mr. Crapo, Mr. Moran, Mr. Wyden, Mr. Roberts, Mrs. Gillibrand, Mr. Wicker, Mr. Boozman, Mr. Thune, and Ms. Snowe)) 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 extend and modify the railroad track maintenance credit.

1.

Short title

This Act may be cited as the Short Line Railroad Rehabilitation and Investment Act of 2011.

2.

Extension and modification of Railroad Track Maintenance Credit

(a)

Extension of credit

Section 45G(f) of the Internal Revenue Code of 1986 is amended by striking January 1, 2012 and inserting January 1, 2018.

(b)

Expenditures

Subsection (d) of section 45G of the Internal Revenue Code of 1986 is amended by striking for maintaining and all that follows and inserting

for maintaining—

(A)

in the case of taxable years beginning after December 31, 2004, and before January 1, 2012, railroad track (including roadbed, bridges, and related track structures) owned or leased as of January 1, 2005, by a Class II or Class III railroad (determined without regard to any consideration for such expenditures given by the Class II or Class III railroad which made the assignment of such track), and

(B)

in the case of taxable years beginning after December 31, 2011, railroad track (including roadbed, bridges, and related track structures) owned or leased as of January 1, 2012, by a Class II or Class III railroad (determined without regard to any consideration for such expenditures given by the Class II or Class III railroad which made the assignment of such track).

.

(c)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2011.