Georgia Transportation Leaders Praise Governor, General Assembly
Thursday, May 10th, 2018
Leaders of the Georgia Transportation Alliance praised Governor Nathan Deal and members of the General Assembly for their leadership with regard to the state’s rail network on (day) as House Bill 735 was signed into law. The measure creates a new income tax credit for maintenance-related expenditures on freight rail tracks.
“Georgia’s freight rail network is the lifeblood of our state. Throughout our history, our ability to efficiently and safely move goods has attracted economic investment and stimulated job creation,” commented Conner Poe, regional vice president for Norfolk Southern and treasurer of the Georgia Transportation Alliance. “This measure will help to ensure a robust future for our rail system as it continues to play a critical role in our economy and in communities throughout the state.”
House Bill 735 creates an income tax credit for expenditures on the maintenance of railroad tracks owned or leased by Class III railroads and was part of the House Rural Development Council’s recommendations designed to stimulate economic growth in rural communities. It also exempts ballasted freight rail areas from stormwater utility fees. Modeled after a similar federal program, the measure was designed to encourage strategic investment in Georgia’s rail network.
“Georgia’s growing logistics industry cannot be sustained without proper maintenance and expansion of its rail network. This new law is an important first step towards ensuring that we will be able to fully meet the state’s freight rail needs, which are estimated to be as much as $6 over the next two decades,” added Seth Millican, executive director of the Georgia Transportation Alliance. “We commend the foresight and continued commitment of our elected leaders, who clearly understand the connection between transportation and job creation in rural communities.”