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S. 1532

U.S. Senate•In Senate Committee

Summary

S. 1532, a bill to amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit, was introduced in the Senate on Apr 30, 2025 by Sen. Mike Crapo (R) with 47 co-sponsors. It was referred to Finance, and last saw action on Apr 30, 2025: Read twice and referred to the Committee on Finance.

Record

Text

S. 1532 has 47 co-sponsors.

sb1532/introduced-in-senate.txt
119 S1532 IS: To amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.
 U.S. Senate
 2025-04-30
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 II  119th CONGRESS  1st Session  S. 1532  IN THE SENATE OF THE UNITED STATES   April 30, 2025   Mr. Crapo  (for himself and  Mr. Wyden ) introduced the following bill; which was read twice and referred to the  Committee on Finance    A BILL
To amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.
1.
Modification of railroad track maintenance credit
(a)
Increase in credit amount
(1)
In general
 Section 45G(b)(1)(A)  of the Internal Revenue Code of 1986 is amended by striking  $3,500  and inserting  $6,100 .
(2)
Inflation adjustment
Section 45G of such Code is amended by adding at the end the following new subsection:
(f)
Inflation adjustment
(1)
In general
In the case of a taxable year beginning after 2025, the $6,100 amount in subsection (b)(1)(A) shall be increased by an amount equal to—
(A)
such dollar amount, multiplied by
(B)
the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting  calendar year 2024  for  calendar year 2016  in subparagraph (A)(ii) thereof.
(2)
Rounding
Any increase determined under paragraph (1) which is not a multiple of $100 shall be rounded to the nearest multiple of $100.
 .
(b)
Qualified railroad track maintenance expenditures
 Section 45G(d)  of the Internal Revenue Code of 1986 is amended by striking  January 1, 2015  and inserting  January 1, 2024 .
(c)
Effective date
The amendments made by this section shall apply to expenditures paid or incurred in taxable years beginning after December 31, 2024.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2025-04-30
  2. Passed Senate
  3. Passed House
  4. Conference
  5. To President
  6. Became Law

CRS Summary

The summaries are the Congressional Research Service’s, one per stage. Read them in full.

Introduced in Senate Apr 30, 2025

sb1532/introduced-in-senate.md

Shown Here:
Introduced in Senate (04/30/2025)

This bill increases the annual limit on the tax credit for qualified railroad track maintenance expenses (also referred to as the short line railroad tax credit) and expands eligibility for claiming the credit.

Under current law, the tax credit is limited each tax year to $3,500 multiplied by the sum of the number of miles of railroad track owned or leased by the taxpayer (miles owned or leased) and the number of railroad track miles assigned to the taxpayer by a Class II or III railroad (miles assigned). This bill increases the annual limit to $6,100 multiplied by the sum of miles owned or leased and miles assigned. The $6,100 amount used in the calculation of the tax credit limit is adjusted for inflation for tax years beginning after 2025.

The bill also expands eligibility for the tax credit to include gross expenses for maintaining railroad tracks owned or leased as of January 1, 2024. Under current law, the tax credit is limited to gross expenses for maintaining railroad tracks owned or leased as of January 1, 2015.

Sponsors

Sen. Mike Crapo (R) sponsors S. 1532, and 47 members have co-sponsored it, 1 of them from the day it was introduced.

Committees

S. 1532 went before 1 committee: Finance.

Finance
Finance
Referred To · Apr 30, 2025 · 902 Bills

Actions

S. 1532 has taken 2 actions since Apr 30, 2025.

ChamberAction
Apr 30, 2025
Senate
Read twice and referred to the Committee on Finance.Finance Committee
Apr 30, 2025
—
Introduced in Senate

Votes

S. 1532 has not gone to a roll call.

1 bill is related to S. 1532, as Identical bill.

Titles

S. 1532 goes by 2 titles.

  • A bill to amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit. — Official Title as Introduced
  • A bill to amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit. — Display Title

Lobbying

10 clients hired 4 firms and 9 registered lobbyists who named S. 1532 in 41 quarterly filings, 2025 to 2026. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Railroads, Taxation/Internal Revenue Code, Budget/Appropriations, Transportation, Marine/Maritime/Boating/Fisheries.

Clients

Who paid to be heard, by how many filings named the bill.

ClientBusinessStateFirmsFilingsReported
OMNITRAX, INC.Short line and regional freight railroad holding companyColorado16$2.5M
PATRIOT RAIL COMPANY (FKA PIONEER LINES (FKA PIONEER RAILCORP))Short line railroad holding companyColorado15$630K
IOWA INTERSTATE RAILROAD, LTDFreight railroad serving Iowa and IllinoisIowa15$412K
ALASKA RAILROAD CORP—Alaska15$250K
RED RIVER VALLEY & WESTERN RAILROAD COMPANYRegional freight railroadNorth Dakota15$230K
P&L TRANSPORTATION, INC. (FKA APPALACHIAN & OHIO RAILROAD, INC.)Short line freight railroadKentucky15$110K
ANACOSTIA RAIL HOLDINGS COMPANYHoldings company for short-line freight railroads.Illinois15$60K
NATIONAL RAILROAD CONSTRUCTION AND MAINTENANCE ASSOCIATIONrailroad trade associationDistrict of Columbia12$60K
RAILWAY ENGINEERING MAINTENANCE SUPPLIERS ASSOCIATIONRailway supplier trade associationDistrict of Columbia12—
TWIN CITIES & WESTERN RAILROAD COMPANYSmall business freight railroadMinnesota11—

Firms

Registrants who filed on the bill, by filings.

RegistrantClientsFilingsReported
VIKING NAVIGATION LLC627$3.9M
BLANK ROME GOVERNMENT RELATIONS15$250K
CARPI & CLAY, INC15$60K
TGA ASSOCIATION MANAGEMENT SOLUTIONS, LLC24$60K

Lobbyists

Named on the filings that cite the bill.

LobbyistFirmsClientsFilings
ADAM NORDSTROM1627
CJ ZANE115
DONALD NORDEN115
GENEVIEVE COWAN115
JULIE MINERVA115
KATIE KACHEL115
MATTHEW GINSBERG124
ADDISON SHEPPARD112
ASHLEY WIELAND112

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

ClientRegistrantPeriodReportedDocument
OMNITRAX, INC.VIKING NAVIGATION LLC2025 third_quarter$680K3rd Quarter - Report
OMNITRAX, INC.VIKING NAVIGATION LLC2025 second_quarter$680K2nd Quarter - Report
OMNITRAX, INC.VIKING NAVIGATION LLC2025 fourth_quarter$500K4th Quarter - Report
OMNITRAX, INC.VIKING NAVIGATION LLC2025 third_quarter$450K3rd Quarter - Amendme…
PATRIOT RAIL COMPANY (FKA PIONEER LINES (FKA PIONEER RAILCORP))VIKING NAVIGATION LLC2026 second_quarter$230K2nd Quarter - Report
IOWA INTERSTATE RAILROAD, LTDVIKING NAVIGATION LLC2025 third_quarter$160K3rd Quarter - Report
IOWA INTERSTATE RAILROAD, LTDVIKING NAVIGATION LLC2025 second_quarter$160K2nd Quarter - Report
PATRIOT RAIL COMPANY (FKA PIONEER LINES (FKA PIONEER RAILCORP))VIKING NAVIGATION LLC2025 third_quarter$140K3rd Quarter - Report
OMNITRAX, INC.VIKING NAVIGATION LLC2026 second_quarter$130K2nd Quarter - Report
PATRIOT RAIL COMPANY (FKA PIONEER LINES (FKA PIONEER RAILCORP))VIKING NAVIGATION LLC2026 first_quarter$130K1st Quarter - Report
PATRIOT RAIL COMPANY (FKA PIONEER LINES (FKA PIONEER RAILCORP))VIKING NAVIGATION LLC2025 second_quarter$110K2nd Quarter - Report
RED RIVER VALLEY & WESTERN RAILROAD COMPANYVIKING NAVIGATION LLC2025 third_quarter$100K3rd Quarter - Report
RED RIVER VALLEY & WESTERN RAILROAD COMPANYVIKING NAVIGATION LLC2025 second_quarter$100K2nd Quarter - Report
OMNITRAX, INC.VIKING NAVIGATION LLC2026 first_quarter$80K1st Quarter - Report
IOWA INTERSTATE RAILROAD, LTDVIKING NAVIGATION LLC2025 fourth_quarter$60K4th Quarter - Report
ALASKA RAILROAD CORPBLANK ROME GOVERNMENT RELATIONS2026 second_quarter$50K2nd Quarter - Report
ALASKA RAILROAD CORPBLANK ROME GOVERNMENT RELATIONS2026 first_quarter$50K1st Quarter - Report
ALASKA RAILROAD CORPBLANK ROME GOVERNMENT RELATIONS2025 fourth_quarter$50K4th Quarter - Report
ALASKA RAILROAD CORPBLANK ROME GOVERNMENT RELATIONS2025 third_quarter$50K3rd Quarter - Report
ALASKA RAILROAD CORPBLANK ROME GOVERNMENT RELATIONS2025 second_quarter$50K2nd Quarter - Report

Classification

The Congressional Research Service files S. 1532 under Taxation, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; S. 1532’s is Taxation.

s1532/policy-areas.txt
TaxationAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesFinance and Financial SectorForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTransportation and Public WorksWater Resources Development

Source: congress.gov · legiscan.com