[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 510 Introduced in House (IH)]

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116th CONGRESS
  1st Session
                                H. R. 510

 To amend the Internal Revenue Code of 1986 to permanently extend the 
       railroad track maintenance credit, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 11, 2019

 Mr. Blumenauer (for himself and Mr. Kelly of Pennsylvania) 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, and for other purposes.

    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 of 2019'' or the ``BRACE Act of 2019''.

SEC. 2. RAILROAD TRACK MAINTENANCE CREDIT MADE PERMANENT.

    (a) In General.--Section 45G of the Internal Revenue Code of 1986 
is amended by striking subsection (f).
    (b) Effective Date.--
            (1) In general.--The amendment made by subsection (a) shall 
        apply to expenditures paid or incurred during taxable years 
        beginning after December 31, 2017.
            (2) Safe harbor assignments.--Assignments, including 
        related expenditures paid or incurred, referred to in section 
        45G(b)(2) of the Internal Revenue Code of 1986 for taxable 
        years ending after December 31, 2017, shall not fail to be 
        treated as timely made if made pursuant to a written agreement 
        entered into not later than 90 days after the date of the 
        enactment of this Act.
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