A bill to amend the Internal Revenue Code of 1986 to provide special depreciation and amortization rules for highway and related property subject to long-term leases, and for other purposes.
Transportation Access for All Americans Act - Amends the Internal Revenue Code to: (1) allow accelerated depreciation of applicable leased highway property, and (2) provide for amortization of intangibles relating to such property. Defines "applicable leased highway property" as property subject to a lease between a taxpayer and a governmental entity under which the taxpayer leases a highway and associated improvements, receives a right-of-way on public lands underlying such highway and improvements, and receives a grant of a franchise or other intangible right to receive payments relating to the operation of such highway. Prohibits private activity bond financing of applicable leased highway property.
Referred to the Committee on Transportation and Infrastructure, and in addition to the Committees on Ways and Means, Natural Resources, Energy and Commerce, Agriculture, Science, Space, and Technology, the Budget, Oversight and Government Reform, Financial Services, Education and the Workforce, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Became Public Law No: 112-141.
See also H.R. 4348.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 327.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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