A bill to amend the Internal Revenue Code of 1986 to accelerate locomotive fuel savings nationwide and provide incentives for owners of high polluting locomotives to replace such locomotives with newly-built or newly-remanufactured fuel efficient and less polluting locomotives.
Locomotive Fleet Investment Act of 2009 - Amends the Internal Revenue Code to allow a business-related tax credit for 30% of the cost of qualified locomotive property. Defines "qualified locomotive property" as any newly built or remanufactured diesel line-haul, passenger, or switch locomotive (whether or not owned by a railroad) which is acquired after December 31, 2009, and which meets applicable standards under the Clean Air Act for emissions from locomotives, as in effect on December 31, 2009. Terminates such credit after December 31, 2013.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S10927)
Read twice and referred to the Committee on Finance.
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