Intercity Passenger Rail Trust Fund Act of 1995

Summary

Intercity Passenger Rail Trust Fund Act of 1995 - Amends the Internal Revenue Code to establish the Intercity Passenger Rail Trust Fund to finance qualified expenses of: (1) the National Railroad Passenger Corporation; and (2) eligible States. Makes appropriations in specified amounts for FY 1996 through FY 2000 to such Fund. Directs the Secretary of Transportation, by October 1, 2000, to determine and retain the amount in the Intercity Passenger Rail Fund necessary to pay any outstanding qualified expenses, and to transfer any amount not so retained to the Mass Transit Fund. Authorizes the Secretary to transfer from time to time from the Highway Trust Fund to the Intercity Passenger Rail Trust Fund the intercity passenger rail portion of specified funds appropriated to the Highway Trust Fund. Prohibits a deduction for interest paid on loans with respect to any endowment or annuity insurance contracts owned by the taxpayer covering any individual.

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Documents

3 official files

• Placed on Calendar Senate (text)

  Placed on Calendar Senate · EN · 3 November 1995

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• Placed on Calendar Senate (PDF)

  Placed on Calendar Senate · EN · 3 November 1995

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• Introduced in Senate

  summary · EN · 3 November 1995

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