H.R.8082 - Freight RAILCAR Act of 2020116th Congress (2019-2020)
|Sponsor:||Rep. Schneider, Bradley Scott [D-IL-10] (Introduced 08/21/2020)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 08/21/2020 Referred to the House Committee on Ways and Means. (All Actions)|
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Summary: H.R.8082 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (08/21/2020)
Freight Rail Assistance and Investment to Launch Coronavirus-era Activity and Recovery Act of 2020 or the Freight RAILCAR Act of 2020
This bill establishes a new tax credit for the replacement and modernization of qualified freight railcars. Specifically, it allows a credit for 50% of the sum of the qualifying replacement or modernization amount, the qualifying scrap amount, and the qualifying railcar facility and technology modernization amount.
The bill defines qualified freight railcar as a freight railcar that meets significant improvement requirements for capacity, fuel efficiency, or performance.