Increases the railroad track maintenance credit amount and adjusts for inflation.

This bill amends the Internal Revenue Code to increase the amount of the railroad track maintenance credit from $3,500 to $6,100. It also introduces an inflation adjustment for the credit amount, rounding any increase to the nearest $100. The bill extends the period for qualified railroad track maintenance expenditures to January 1, 2024. These changes apply to expenditures paid or incurred in taxable years beginning after December 31, 2024.

Increases the railroad track maintenance credit amount and adjusts for inflation.

This bill amends the Internal Revenue Code to increase the amount of the railroad track maintenance credit from $3,500 to $6,100. It also introduces an inflation adjustment for the credit amount, rounding any increase to the nearest $100. The bill extends the period for qualified railroad track maintenance expenditures to January 1, 2024. These changes apply to expenditures paid or incurred in taxable years beginning after December 31, 2024.