after the item relating to section 45AA the following new item: Sec. 45BB. Freight railcar modernization credit. . (e) Effective date The amendments made by this section shall apply to property placed in service, and amounts paid or incurred, after December 31, 2022. 3. Report on the freight railcar modernization credit (a) In general Not later than 3 years after the date of the enactment of this Act, the Secretary of the Treasury (or the Secretary’s delegate), shall submit to the Committee on Ways and Means of the House of Representatives and the Committee on Finance of the Senate a report on activity with respect to the qualified freight railcar credit under section 45BB of the Internal Revenue Code of 1986. (b) Report contents The report submitted under subsection (a) shall contain information with respect to the following: (1) The number of times the credit was claimed. (2) The number of railcars scrapped as a result of the credit. (3) The number of new railcars entered into contract as a result of the credit. (4) The number of new railcars built as a result of the credit.