H.R.272 - Freight Rail Infrastructure Capacity Expansion Act of 2009111th Congress (2009-2010)
Summary: H.R.272 — 111th Congress (2009-2010)
Introduced in House (01/07/2009)
Freight Rail Infrastructure Capacity Expansion Act of 2009 - Amends the Internal Revenue Code to allow: (1) a tax credit for 25% of the cost of new qualified freight rail infrastructure property and qualified locomotive property; and (2) a taxpayer election to expense the cost of qualified freight rail infrastructure property (i.e., deduct all costs in the current taxable year). Terminates such credit and expensing election after 2012.