BRACE Act

Building Rail Access for Customers and the Economy Act or the BRACE Act

This bill amends the Internal Revenue Code to make permanent the tax credit for railroad track maintenance.

[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4626 Introduced in House (IH)]

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114th CONGRESS
  2d Session
                                H. R. 4626

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


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 25, 2016

Ms. Jenkins of Kansas (for herself, Mr. Blumenauer, Mr. Rodney Davis of 
 Illinois, and Mr. Lipinski) 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 permanently extend 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. SHORT TITLE.

    This Act may be cited as the ``Building Rail Access for Customers 
and the Economy Act'' or the ``BRACE Act''.

SEC. 2. EXTENSION OF THE RAILROAD TRACK MAINTENANCE CREDIT.

    (a) In General.--Section 45G(f) of the Internal Revenue Code of 
1986 is amended by striking ``, and before January 1, 2017''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to expenditures paid or incurred in taxable years beginning after 
December 31, 2016.
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