This bill would allow a tax credit against the state income tax of an eligible taxpayer's qualified railroad reconstruction or replacement expenditures, which includes the maintenance, reconstruction, or replacement of railroad infrastructure within the state that is owned or leased by the eligible taxpayer
This bill would allow an eligible taxpayer who receives the tax credit to transfer the tax credit under certain conditions and would sunset the tax credit in five years
Relating to tax credits; to create The Railroad Modernization Act of 2019; to authorize a tax credit against the state income tax of an eligible taxpayer's qualified railroad reconstruction or replacement expenditures; and to authorize the transfer of the credit.
|April 16, 2019||S||Read for the first time and referred to the Senate committee on Finance and Taxation Education|
|Bill Text||SB 291 - Introduced|