H.R. 6066 (112th): Commuter Savings Act of 2012

112th Congress, 2011–2013. Text as of Jun 29, 2012 (Introduced).

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I

112th CONGRESS

2d Session

H. R. 6066

IN THE HOUSE OF REPRESENTATIVES

June 29, 2012

(for herself, Mr. Dold, and Mr. King of New York) introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

A BILL

To amend the Internal Revenue Code of 1986 to extend the parity between the exclusion from income for employer-provided mass transit and parking benefits.

1.

Short title

This Act may be cited as the Commuter Savings Act of 2012.

2.

Extension of parity for exclusion from income for employer-provided mass transit and parking benefits

(a)

In general

Paragraph (2) of section 132(f) of the Internal Revenue Code of 1986 is amended by striking January 1, 2012 and inserting January 1, 2014.

(b)

Effective date

The amendments made by this section shall apply to months after December 31, 2011.

3.

Reduction in appropriations to Prevention and Public Health Fund

The amounts appropriated to the Prevention and Public Health Fund established under section 4002 of the Patient Protection and Affordable Care Act shall be reduced by an amount equal to the amount estimated by the Secretary of the Treasury to be the reduction in revenues to the Federal Government by reason of the amendments made by section 1.