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Bill would create tax credit to spur rail spurs and industrial-site rail connections; industry backers argue large ROI
Summary
House Bill 365 proposes income-tax credits for businesses or projects that build short rail spurs and connect industrial sites to rail networks; backers said the credit would unlock rural economic development and port-rail capacity, while noting high per-mile construction costs.
Representative Jaspers introduced House Bill 365, a proposal that would create a tax-credit program to encourage private and public investment in rail spurs and connections between industrial sites and the state’s rail network.
The measure would offer a 10% tax credit for businesses located or expanding adjacent to the rail network and a 50% credit for…
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