Under existing law, there exists the Railroad Modernization Act of 2019, which allows a tax credit against the state income tax of an eligible taxpayer's qualified railroad reconstruction or replacement expenditures within the state that is owned or leased by the eligible taxpayer. This bill would amend the Railroad Modernization Act of 2019 to increase the per mile credit amount; to increase the annual cap on income tax credits; and to extend the sunset date.

Statutes affected:
Introduced: 37-11C-4, 37-11C-6