EXTENSION AND MODIFICATION OF RAILROAD TRACK MAINTENANCE CREDIT.

SEC. 162. EXTENSION AND MODIFICATION OF RAILROAD TRACK MAINTENANCE CREDIT. (a) [26 U.S.C. 45G] Extension.—Section 45G(f) is amended by striking “January 1, 2015” and inserting “January 1, 2017”. (b) Modification.—Section 45G(d) is amended by striking “January 1, 2005,” and inserting “January 1, 2015,”. (c) [26 U.S.C. 45G note] Effective Dates.— (1) Extension.—The amendment made by subsection (a) shall apply to expenditures paid or incurred in taxable years beginning after December 31, 2014. (2) Modification.—The amendment made by subsection (b) shall apply to expenditures paid or incurred in taxable years beginning after December 31, 2015.