< Back to H.R. 1498 (110th Congress, 2007–2009)

Text of To amend the Internal Revenue Code of 1986 to extend the transportation fringe benefit to bicycle commuters.

This bill was introduced on March 13, 2007, in a previous session of Congress, but was not enacted. The text of the bill below is as of Mar 13, 2007 (Introduced).

Source: GPO

I

110th CONGRESS

1st Session

H. R. 1498

IN THE HOUSE OF REPRESENTATIVES

March 13, 2007

(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

A BILL

To amend the Internal Revenue Code of 1986 to extend the transportation fringe benefit to bicycle commuters.

1.

Extension of transportation fringe benefit to bicycle commuters

(a)

In general

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:

(D)

Bicycle commuting allowance.

.

(b)

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:

(F)

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.

.

(c)

Limitation on exclusion

Paragraph (2) of section 132(f) of such Code is amended by striking subparagraphs (A) and (B) and inserting subparagraphs (A), (B), and (D).

(d)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2007.