WeVote
Log In

Bill

Bill

HR 516

CONGRATS-WAUBONSIE VALLEY HS

104th Regular Session Introduced by Stephanie Kifowit

The bill would raise and index the railroad track maintenance tax credit (IRC 45G) from $3,500 to $6,100 and apply future cost‑of‑living adjustments starting after 2025.

Resolution Adopted
0
WeVote Research Nonpartisan
Bill Summary · HR 516

Summary — H.R. 516 (documents compiled under this number)

Note: the materials compiled under the label “H.R. 516” in the provided file include three distinct measures that share the same bill/resolution number in different contexts: (A) a federal bill to amend the Internal Revenue Code (railroad track maintenance credit), (B) a House resolution commending William L. “Bill” Lundy, Jr., and (C) an Illinois House congratulatory resolution for Waubonsie Valley High School. The primary substantive statute-like measure is the federal tax bill; the other two are ceremonial resolutions. Below are concise summaries of each.

A. Federal bill — “To amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit”

  • Purpose: Increase and index the existing railroad track maintenance tax credit to better reflect current costs and update the eligibility date for qualified expenditures.
  • Key provisions:
    • Increases the per-unit credit amount in section 45G(b)(1)(A) from $3,500 to $6,100.
    • Adds a new inflation-adjustment subsection (new 45G(f)) that, for taxable years beginning after 2025, increases the $6,100 amount by a cost-of-living adjustment based on the section 1(f)(3) mechanism (substituting calendar year 2024 for calendar year 2016), with increases rounded to the nearest $100.
    • Amends section 45G(d) by changing the date reference from “January 1, 2015” to “January 1, 2024” (affecting which expenditures qualify).
    • Effective date: applies to expenditures paid or incurred in taxable years beginning after December 31, 2024.
  • Who is affected: taxpayers who claim the railroad track maintenance credit under IRC §45G — principally railroad companies and others who incur qualifying track maintenance expenditures — and the Treasury through altered tax expenditures/credit amounts.
  • Procedural notes: Introduced in the U.S. House on Jan 16, 2025 (Rep. Mike Kelly of PA and Rep. Thompson of CA as sponsors per the bill text), referred to the House Ways & Means Committee. The file also lists a companion Senate bill S.1532.

B. House resolution commending William L. “Bill” Lundy, Jr.

  • Purpose: Acknowledges and commends Mr. Lundy for 40 years of legal service, outlining career highlights (education, legal practice in Georgia and Alabama, leadership roles in State Bar of Georgia, notable Supreme Court case Easterwood v. CSX Transportation (1993), community activities, family, and anecdotal items).
  • Disposition: This is a ceremonial commendation resolution directing the Clerk to make a copy available to Mr. Lundy.

C. Illinois House Resolution — “Congratulations to Waubonsie Valley High School on its 50th anniversary”

  • Purpose: State-level congratulatory resolution from the Illinois General Assembly recognizing Waubonsie Valley High School’s 50th anniversary (founding date referenced as September 3, 1975; 50th anniversary Sept 3, 2025).
  • Key details: Notes growth (from ~300 to ~2,700 students), planned $150 million renovation (expected completion 2030), initiatives to update namesake imagery and create a bust of Chief Waubonsie, reopening a 25-year time capsule and creating a 2050 capsule, and planned celebratory events (new mascot at homecoming, historical video, unveiling of bust).
  • Procedural history: Filed with Clerk by Rep. Stephanie A. Kifowit (filed Oct 16, 2025); placed on calendar and adopted Oct 28, 2025.

Sponsors / Support

  • The package as provided lists many cosponsors across different documents. The federal tax bill text is attributed to Representatives Kelly (PA) and Thompson (CA). The Illinois resolution lists Rep. Stephanie A. Kifowit as filer and several primary sponsors (Tyler Paul Smith; Trey Kelley; Stephanie A. Kifowit) in that state context.

If you want, I can:
- Produce a side-by-side comparison of the current IRC §45G text and the proposed changes;
- Estimate fiscal effects (rough cost) using available tax expenditure data (would require authorization/assumptions); or
- Prepare a one-page fact sheet focused only on the Waubonsie Valley High School resolution.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.