To amend the Internal Revenue Code of 1986 to provide a tax credit to encourage the replacement or modernization of inefficient, outdated freight railcars, and for other purposes.
Summary
What This Bill Does
The bill creates freight railcar modernization credit Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: 45BB.Freight railcar, creates 45BB. Freight railcar modernization credit, and creates report on the freight railcar modernization credit. It relies on tax credits, compliance mandates, definition changes, and grants. The main policy areas are Natural Gas, Transportation, Energy, and Finance.
Who Benefits and How
Transportation operators and users affected by the bill could face lower compliance burdens, Natural gas companies and customers affected by the bill could face lower compliance burdens, and Homeowners, tenants, or housing market participants affected by the bill could face lower compliance burdens.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties and Public beneficiaries or protected communities affected by the clause could face increased risk.
Key Provisions
- Creates freight railcar modernization credit Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: 45BB.Freight railcar...
- Creates 45BB. Freight railcar modernization credit.
- Creates report on the freight railcar modernization credit.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill creates freight railcar modernization credit Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: 45BB.Freight railcar, creates 45BB. Freight railcar modernization credit, and creates report on the freight railcar modernization credit.
Key Policy Areas
Natural Gas, Transportation, Energy, Finance
Primary Purpose
The bill creates freight railcar modernization credit Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: 45BB.Freight railcar, creates 45BB. Freight railcar modernization credit, and creates report on the freight railcar modernization credit.
Policy Domains
Whole bill
Identified Gains
- Transportation operators and users affected by the bill
- Natural gas companies and customers affected by the bill
- Homeowners, tenants, or housing market participants affected by the bill
- Businesses and employers affected by the bill
- Public beneficiaries or protected communities affected by the clause
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
- Public beneficiaries or protected communities affected by the clause
Sponsors
Legislative Progress
IntroducedMr. LaHood (for himself, Mr. Schneider, Mr. Bacon, Mr. Bishop …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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