SB 250

Bill Subjects

Income Taxes, Credits Railroads

Abstract

Allows a taxpayer to claim a credit against state income tax liability for certain qualified railroad expenditures and qualified new rail infrastructure expenditures. Specifies the amount of the credit. Limits the total amount of credits that may be allowed in a state fiscal year to: (1) $9,500,000 for qualified railroad expenditures; and (2) $10,000,000 for qualified new rail infrastructure expenditures.