H. R. 1498
IN THE HOUSE OF REPRESENTATIVES
March 13, 2007
Mr. Blumenauer (for himself, Mrs. Capps, Mr. Hinchey, Mr. Moran of Virginia, Mr. McGovern, Mr. Snyder, Mr. Ruppersberger, Mr. McDermott, Mr. Farr, and Mr. Capuano) introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to extend the transportation fringe benefit to bicycle commuters.
Extension of transportation fringe benefit to bicycle commuters
Paragraph (1) of section 132(f) of the Internal Revenue Code of 1986 (relating to general rule for qualified transportation fringe) is amended by adding at the end the following:
Bicycle commuting allowance.
Bicycle commuting allowance defined
Paragraph (5) of section 132(f) of such Code (relating to definitions) is amended by adding at the end the following:
Bicycle commuting allowance
The term bicycle commuting allowance means an amount provided to an employee for transportation on a bicycle if such transportation is in connection with travel between the employee’s residence and place of employment.
Limitation on exclusion
Paragraph (2) of section 132(f) of such Code is amended
subparagraphs (A) and (B) and inserting
subparagraphs (A), (B), and (D).
The amendments made by this section shall apply to taxable years beginning after December 31, 2007.