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HR 516
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To amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.

To amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.

Introduced Jan 16, 2025

Latest action (Jan 16, 2025) Referred to the House Committee on Ways and Means.

Referred to
Ways and Means Committee
Policy area
Taxation
Issues
Economy & Taxes

Summary

This bill increases the federal railroad track maintenance tax credit from $3,500 to $6,100 per mile of track. It adds an automatic inflation adjustment to the credit amount beginning in 2026, which will increase the credit annually based on cost-of-living changes. The bill also updates the definition of qualified railroad track maintenance expenditures to include work performed after January 1, 2024. The changes take effect for tax years beginning after December 31, 2024.

AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.

Sponsor (1)
177 cosponsors

Money behind the sponsor

Top reported contributors to Mike Kelly’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.

  • NULL $43,700
  • THE PARKER FOUNDATION $13,200
  • LINDY PAVING INC. $8,800
  • GREATER PITTSBURGH AUTO DEALERS ASSOCI $8,300
  • ANDERSON COACH & TRAVEL $8,300

Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Mike Kelly → · Outside spending →

Actions (2)
  1. Jan 16, 2025 Referred to the House Committee on Ways and Means. · house
  2. Jan 16, 2025 Introduced in House

Similar bills (6)

Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.

  • S 1532 — A bill to amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit. · Introduced Apr 30, 2025 · Cong. 119 91%
  • HR 549 — To amend the Internal Revenue Code of 1986 to repeal the clean fuel production credit. · Introduced Jan 16, 2025 · Cong. 119 78%
  • HR 3223 — To amend the Internal Revenue Code of 1986 to establish procedures relating to the attribution of errors in the case of third party payors of payroll taxes, and for other purposes. · Introduced May 6, 2025 · Cong. 119 75%
  • HR 4787 — To amend the Internal Revenue Code of 1986 to extend the deduction for film and television productions and to make certain changes with respect to the calculation of such deduction. · Introduced Jul 29, 2025 · Cong. 119 75%
  • HR 3159 — To amend the Internal Revenue Code of 1986 and the Office of Federal Procurement Policy Act to provide economic benefits to small businesses. · Introduced Oct 31, 2001 · Cong. 107 73%
  • HR 3515 — To amend the Internal Revenue Code of 1986 to exclude military bonuses from gross income. · Introduced May 20, 2025 · Cong. 119 73%

Text versions (1)
  • Introduced in House · Jan 16, 2025

Only one text version is on file, so there’s no earlier version to compare against yet.

Full text

IN THE HOUSE OF REPRESENTATIVES

January 16, 2025

Mr. Kelly of Pennsylvania (for himself and Mr. Thompson of 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 Representatives of the United States of America in Congress assembled,

SECTION 1. MODIFICATION OF RAILROAD TRACK MAINTENANCE CREDIT.

(a) Increase in Credit Amount.—

(1) In general.—Section 45G(b)(1)(A) of the Internal Revenue Code of 1986 is amended by striking “$3,500” and inserting “$6,100”.

(2) Inflation adjustment.—Section 45G of such Code is amended by adding at the end the following new subsection:

“(f) Inflation Adjustment.—

“(1) In general.—In the case of a taxable year beginning after 2025, the $6,100 amount in subsection (b)(1)(A) shall be increased by an amount equal to—

“(A) such dollar amount, multiplied by

“(B) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting ‘calendar year 2024’ for ‘calendar year 2016’ in subparagraph (A)(ii) thereof.

“(2) Rounding.—Any increase determined under paragraph

(1) which is not a multiple of $100 shall be rounded to the nearest multiple of $100.”.

(b) Qualified Railroad Track Maintenance Expenditures.—Section 45G(d) of the Internal Revenue Code of 1986 is amended by striking “January 1, 2015” and inserting “January 1, 2024”.

(c) Effective Date.—The amendments made by this section shall apply to expenditures paid or incurred in taxable years beginning after December 31, 2024. <all>

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