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I
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.
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 Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Building Rail Access
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for Customers and the Economy Act of 2019’’ or the
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‘‘BRACE Act of 2019’’.
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SEC. 2. RAILROAD TRACK MAINTENANCE CREDIT MADE
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PERMANENT.
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(a) IN GENERAL.—Section 45G of the Internal Rev-
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enue Code of 1986 is amended by striking subsection (f).
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•HR 510 IH
(b) EFFECTIVE DATE.—
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(1) IN
GENERAL.—The amendment made by
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subsection (a) shall apply to expenditures paid or in-
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curred during taxable years beginning after Decem-
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ber 31, 2017.
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(2) SAFE
HARBOR
ASSIGNMENTS.—Assign-
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ments, including related expenditures paid or in-
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curred, referred to in section 45G(b)(2) of the Inter-
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nal Revenue Code of 1986 for taxable years ending
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after December 31, 2017, shall not fail to be treated
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as timely made if made pursuant to a written agree-
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ment entered into not later than 90 days after the
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date of the enactment of this Act.
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