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S. 885

BillFederalSenateIn Committee
Transportation Access for All Americans Act
About This Bill
Committee
Latest Action · April 23, 2009
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S4689)
Congress
111th (2009–2011)
Introduced
April 23, 2009
Cosponsors (1)
0D 1R
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Summary

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Transportation Access for All Americans Act - Amends the Internal Revenue Code to: (1) allow accelerated depreciation of applicable leased highway property; and (2) provide for amortization of intangibles relating to such property. Defines "applicable leased highway property" as property subject to a lease between a taxpayer and a governmental entity under which the taxpayer leases a highway and associated improvements, receives a right-of-way on public lands underlying such highway and improvements, and receives a grant of a franchise or other intangible right to receive payments relating to the operation of such highway. Prohibits private activity bond financing of applicable leased highway property.

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