H.R. 510 – BRACE Act of 2019

AI-Generated Summary

Updated April 14, 2026 at 12:14 AM UTC

The BRACE Act of 2019 changes the tax code to make the railroad track maintenance credit permanent. By removing the provision that set an expiration date, the credit will continue for any qualifying railroad track maintenance spending. The change mainly affects railroad companies and any taxpayers that claim the credit for track‑maintenance costs.

Key Provisions

Deletes the expiration clause (subsection (f)) in Section 45G, so the railroad track maintenance credit no longer expires.
Applies the permanent credit to expenditures incurred for taxable years beginning after Dec. 31, 2017.
Provides a safe‑harbor rule: assignments related to the credit made within 90 days of the law’s enactment are treated as timely, even if they would otherwise miss the deadline.

Legislative Activity

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1 earlier action

HouseIntro Referral Latest Action

Referred to the House Committee on Ways and Means.

Ways and Means Committee

January 11, 2019

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HouseIntro Referral

Introduced in House

January 11, 2019

HouseIntro Referral

Referred to the House Committee on Ways and Means.

Ways and Means Committee

January 11, 2019

Bill Text

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Introduced in HouseIssued January 11, 2019

I

116th CONGRESS

1st Session

H. R. 510

IN THE HOUSE OF REPRESENTATIVES

January 11, 2019

Mr. Blumenauer (for himself and Mr. Kelly of Pennsylvania) 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, and for other purposes.

1.

Short title

This Act may be cited as the Building Rail Access for Customers and the Economy Act of 2019 or the BRACE Act of 2019.

2.

Railroad track maintenance credit made permanent

(a)

In general

Section 45G of the Internal Revenue Code of 1986 is amended by striking subsection (f).

(b)

Effective date

(1)

In general

The amendment made by subsection (a) shall apply to expenditures paid or incurred during taxable years beginning after December 31, 2017.

(2)

Safe harbor assignments

Assignments, including related expenditures paid or incurred, referred to in section 45G(b)(2) of the Internal Revenue Code of 1986 for taxable years ending after December 31, 2017, shall not fail to be treated as timely made if made pursuant to a written agreement entered into not later than 90 days after the date of the enactment of this Act.