Summary: H.R.3947 — 111th Congress (2009-2010)All Information (Except Text)

There is one summary for H.R.3947. Bill summaries are authored by CRS.

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Introduced in House (10/28/2009)

Locomotive Fleet Investment Act of 2009 - Amends the Internal Revenue Code to allow a business-related tax credit for 30% of the cost of qualified locomotive property. Defines "qualified locomotive property" as a newly built or remanufactured diesel line-haul, passenger, or switch locomotive (whether or not owned by a railroad) which is acquired after December 31, 2009, and which meets applicable standards under the Clean Air Act for emissions from locomotives, as in effect on December 31, 2009. Terminates such credit after December 31, 2013.