January 2, 2020 - TRA Newswire -
It was a nice stocking stuffer for the Short Line Railroad industry that could affect the nearly 50-some "mom and pop" railroads that operate in Texas.
Over the holidays President Trump signed into law the "45G" extension for five years that gives a tax credit to Short Line and Regional Railroads for infrastruture improvements. The appropriations bill is retroactive to 2018 and runs through 2022.
The tax credit culminated several years of hard work by the short line railroad community and was supported by the Texas Short Line and Regional Railroad Association (TSLRRA) and the American Short Line and Regional Railroad Association. The current 45G bill expired at the end of 2017.
President Trump also signed legislation that brings $325 million into play for the next round of CRISI (Consolidated Rail Infrastructure and Safety Inprovements). In addition $1 billion has been approved for BUILD (Better Utilizing Investments to Leverage Development) and $2.5 million for the Short Line Safety Institute.
The legislation was described as a "huge victory for the railway supply industry and the country" according to Railway Supply Institute President Mike O'Malley.
Earlier this year the Texas Short Line and Regional Railroad Association (TSLRRA), fearing that the national short line tax credit would not be renewed found support from State Representative Trent Ashby in a bill that would allow a 25% tax credit for infrastucture improvements. Unfortunately the bill was one of the 90% of legislation filed in Austin that did not pass.
It was a nice stocking stuffer for the Short Line Railroad industry that could affect the nearly 50-some "mom and pop" railroads that operate in Texas.
Over the holidays President Trump signed into law the "45G" extension for five years that gives a tax credit to Short Line and Regional Railroads for infrastruture improvements. The appropriations bill is retroactive to 2018 and runs through 2022.
The tax credit culminated several years of hard work by the short line railroad community and was supported by the Texas Short Line and Regional Railroad Association (TSLRRA) and the American Short Line and Regional Railroad Association. The current 45G bill expired at the end of 2017.
President Trump also signed legislation that brings $325 million into play for the next round of CRISI (Consolidated Rail Infrastructure and Safety Inprovements). In addition $1 billion has been approved for BUILD (Better Utilizing Investments to Leverage Development) and $2.5 million for the Short Line Safety Institute.
The legislation was described as a "huge victory for the railway supply industry and the country" according to Railway Supply Institute President Mike O'Malley.
Earlier this year the Texas Short Line and Regional Railroad Association (TSLRRA), fearing that the national short line tax credit would not be renewed found support from State Representative Trent Ashby in a bill that would allow a 25% tax credit for infrastucture improvements. Unfortunately the bill was one of the 90% of legislation filed in Austin that did not pass.