Section 37-11C-1 – Short Title.
Section 37-11C-1 Short title. This chapter shall be known and may be cited as The Railroad Modernization Act of 2019. (Act 2019-459, §1.)
Section 37-11C-2 – Definitions.
Section 37-11C-2 Definitions. THIS SECTION WAS AMENDED BY ACT 2022-341 IN THE 2022 REGULAR SESSION, EFFECTIVE JULY 1, 2022. TO SEE THE AMENDED VERSION, SEE THE VERSION LABELED PENDING. As used in this chapter, the following words shall have the following meanings: (1) CLASS II RAILROAD. A carrier classified as a Class II railroad pursuant […]
Section 37-11C-3 – Standards for Approval of Qualified Railroad Rehabilitation Expenditures; Application for Tax Credits; Completion of Project; Tax Credit Certificate; Fees; Annual Report.
Section 37-11C-3 Standards for approval of qualified railroad rehabilitation expenditures; application for tax credits; completion of project; tax credit certificate; fees; annual report. THIS SECTION WAS AMENDED BY ACT 2022-341 IN THE 2022 REGULAR SESSION, EFFECTIVE JULY 1, 2022. TO SEE THE AMENDED VERSION, SEE THE VERSION LABELED PENDING. (a) By December 1, 2019, the […]
Section 37-11C-4 – Allowance and Claim of Tax Credits; Railroad Rehabilitation Income Tax Credit Account; Written Transfer Agreements.
Section 37-11C-4 Allowance and claim of tax credits; Railroad Rehabilitation Income Tax Credit Account; written transfer agreements. THIS SECTION WAS AMENDED BY ACT 2022-341 IN THE 2022 REGULAR SESSION, EFFECTIVE JULY 1, 2022. TO SEE THE AMENDED VERSION, SEE THE VERSION LABELED PENDING. (a) For tax years beginning after December 31, 2019, there is a […]
Section 37-11C-5 – Rulemaking Authority; Applications for Reservation of Tax Credits.
Section 37-11C-5 Rulemaking authority; applications for reservation of tax credits. THIS SECTION WAS AMENDED BY ACT 2022-341 IN THE 2022 REGULAR SESSION, EFFECTIVE JULY 1, 2022. TO SEE THE AMENDED VERSION, SEE THE VERSION LABELED PENDING. By October 1, 2019, the Department of Commerce shall adopt any and all rules necessary to implement this chapter. […]
Section 37-11C-6 – Duration of Tax Credits.
Section 37-11C-6 Duration of tax credits. THIS SECTION WAS AMENDED BY ACT 2022-341 IN THE 2022 REGULAR SESSION, EFFECTIVE JULY 1, 2022. TO SEE THE AMENDED VERSION, SEE THE VERSION LABELED PENDING. The tax credit allowed under this chapter shall be effective for the 2020 tax year and shall continue through the 2022 tax year, […]