Legislative Activity

This bill amends the Internal Revenue Code to increase the railroad track maintenance credit from $3,500 to $6,100, adjusting for inflation after 2025. It applies to qualified expenditures starting January 1, 2024, for taxable years beginning after December 31, 2024.

The "Repealing Big Brother Overreach Act" repeals the Corporate Transparency Act, eliminating the requirement for companies to report beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). It also makes necessary technical adjustments to Title 31 of the United States Code, specifically sections related to financial recordkeeping and reporting of currency and foreign transactions, to reflect the repeal.

The Hearing Protection Act seeks to remove silencers from the purview of the National Firearms Act, treating them more like regular firearms under federal law. It preempts state laws that impose additional taxes or regulations on silencers, and mandates the destruction of existing federal silencer records. The Act also revises the definition of firearm silencers and mufflers under federal law, and imposes a 10% tax on these devices. These changes aim to simplify the process for legal acquisition and possession of firearm silencers.

The Historic Roadways Protection Act restricts the Secretary of the Interior from using federal funds to finalize or implement new travel management plans in specific areas of Utah until certain lawsuits are resolved. These lawsuits involve Utah counties versus the United States regarding R. S. 2477. The affected travel management areas include: Henry Mountains and Fremont Gorge, Dinosaur (North), Book Cliffs, Nine Mile Canyon, San Rafael Swell, Dolores River, Trail Canyon, and Paunsaugunt. It also restricts the implementation of specific travel management plans within Utah during the same period.