I
119THCONGRESS
1
STSESSION H. R. 516
To amend the Internal Revenue Code of 1986 to modify the railroad track
maintenance credit.
IN THE HOUSE OF REPRESENTATIVES
JANUARY16, 2025
Mr. K
ELLYof Pennsylvania (for himself and Mr. THOMPSONof California)
introduced the following bill; which was referred to the Committee on
Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to modify
the railroad track maintenance credit.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. MODIFICATION OF RAILROAD TRACK MAINTE-3
NANCE CREDIT. 4
(a) I
NCREASE INCREDITAMOUNT.— 5
(1) I
N GENERAL.—Section 45G(b)(1)(A) of the 6
Internal Revenue Code of 1986 is amended by strik-7
ing ‘‘$3,500’’ and inserting ‘‘$6,100’’. 8
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•HR 516 IH
(2) INFLATION ADJUSTMENT .—Section 45G of 1
such Code is amended by adding at the end the fol-2
lowing new subsection: 3
‘‘(f) I
NFLATIONADJUSTMENT.— 4
‘‘(1) I
N GENERAL.—In the case of a taxable 5
year beginning after 2025, the $6,100 amount in 6
subsection (b)(1)(A) shall be increased by an 7
amount equal to— 8
‘‘(A) such dollar amount, multiplied by 9
‘‘(B) the cost-of-living adjustment deter-10
mined under section 1(f)(3) for the calendar 11
year in which the taxable year begins, deter-12
mined by substituting ‘calendar year 2024’ for 13
‘calendar year 2016’ in subparagraph (A)(ii) 14
thereof. 15
‘‘(2) R
OUNDING.—Any increase determined 16
under paragraph (1) which is not a multiple of $100 17
shall be rounded to the nearest multiple of $100.’’. 18
(b) Q
UALIFIEDRAILROADTRACKMAINTENANCE 19
E
XPENDITURES.—Section 45G(d) of the Internal Revenue 20
Code of 1986 is amended by striking ‘‘January 1, 2015’’ 21
and inserting ‘‘January 1, 2024’’. 22
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(c) EFFECTIVEDATE.—The amendments made by 1
this section shall apply to expenditures paid or incurred 2
in taxable years beginning after December 31, 2024. 3
Æ
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