On Dec. 20, U.S. Sen. Orrin Hatch (R-Utah) introduced the Tax Extender Act of 2017 (S. 2256), which proposes to extend several tax credits — including the Section 45G short-line tax credit — that either expired at 2016's end or are set to expire on Dec. 31.
Expired since Dec. 31, 2016, the short-line tax credit would be extended to Dec. 31, 2018. The Section 45G provision allows regionals and short lines to claim a 50 cent tax credit for each dollar they spend on track rehabilitation and maintenance projects, up to a cap of $3,500 per mile of owned or leased track.
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