Freight RAILCAR Act of 2023

Summary

Freight Rail Assistance and Investment to Launch Coronavirus-Era Activity and Recovery Act of 2023 or the Freight RAILCAR Act of 2023 This bill provides a new tax credit through 2025 for 10% of freight railcar fleet modernization expenses (i.e., railcar replacement and modernization expenses for meeting fuel efficiency and performance standards). The bill provides that no more than 2,000 freight railcars per taxpayer may be taken into account for purposes of determining the credit in a taxable year. The Department of the Treasury must report to Congress on the credit to provide information on the number of times the credit was claimed and the number of railcars scrapped or built as a result of the credit.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 6 February 2023

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• Introduced in House (PDF)

  Introduced in House · EN · 6 February 2023

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• Introduced in House

  summary · EN · 6 February 2023

  Open at official source

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