SB 291
In Committee
Bill Summary
Sponsors
Session
Regular Session 2019
Title
Taxation, tax credits, Railroad Modernization Act, state income tax credit authorized for qualified railroad reconstruction or replacement expenditures
Description
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.
Subjects
Taxation
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| April 16, 2019 | S | Read for the first time and referred to the Senate committee on Finance and Taxation Education |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB 291 - Introduced |