I
112th CONGRESS
1st Session
H. R. 2412
IN THE HOUSE OF REPRESENTATIVES
July 6, 2011
Mr. McGovern (for himself, Mr. Ruppersberger, Mrs. Capps, Mr. Connolly of Virginia, Mr. Grijalva, Mr. Moran, Ms. Richardson, Mr. Capuano, Mr. Farr, Mr. Rothman of New Jersey, Mr. Nadler, Mr. Hinchey, Ms. Schwartz, Mr. Blumenauer, Mr. Davis of Illinois, Mr. Crowley, Mr. Sires, Mr. Kucinich, Mr. Serrano, Mr. Olver, Mr. Sarbanes, Ms. Tsongas, Ms. Hirono, and Mr. Quigley) 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 equalize the exclusion from gross income of parking and transportation fringe benefits and to provide for a common cost-of-living adjustment.
Short title
This Act may be cited as the
Commuter Benefits Equity Act of
2011
.
Uniform dollar limitation for all types of transportation fringe benefits
In general
Section 132(f)(2) of the Internal Revenue Code of 1986 (relating to limitation on exclusion) is amended—
by striking $100
in
subparagraph (A) and inserting $230
, and
by striking $175
in
subparagraph (B) and inserting $230
.
Inflation adjustment conforming amendments
Subparagraph (A) of section 132(f)(6) of the Internal Revenue Code of 1986 (relating to inflation adjustment) is amended—
by striking the last sentence,
by striking
1999
and inserting 2012
, and
by striking
1998
and inserting 2011
.
Effective date
The amendments made by this section shall apply to taxable years beginning after December 31, 2011.
