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Text of the Commuter Benefits Equity Act of 2013

This bill was introduced on June 7, 2013, in a previous session of Congress, but was not enacted. The text of the bill below is as of Jun 7, 2013 (Introduced).

II

113th CONGRESS

1st Session

S. 1116

IN THE SENATE OF THE UNITED STATES

June 7, 2013

(for himself, Mr. Cardin, Mr. Carper, Mr. Menendez, Mr. Coons, and Mrs. Gillibrand) introduced the following bill; which was read twice and referred to the Committee on Finance

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, and for other purposes.

1.

Short title

This Act may be cited as the Commuter Benefits Equity Act of 2013 .

2.

Uniform dollar limitation for all types of transportation fringe benefits

(a)

In general

Section 132(f)(2) of the Internal Revenue Code of 1986 is amended—

(1)

by striking $100 in subparagraph (A) and inserting $245,

(2)

by striking $175 in subparagraph (B) and inserting $245, and

(3)

by striking the last sentence.

(b)

Inflation adjustment conforming amendments

Subparagraph (A) of section 132(f)(6) of the Internal Revenue Code of 1986 is amended—

(1)

by striking the last sentence,

(2)

by striking 1999 and inserting 2013, and

(3)

by striking 1998 and inserting 2012.

(c)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2013.

3.

Clarification of Federal employee benefits

Section 7905 of title 5, United States Code, is amended—

(1)

in subsection (a)

(A)

in paragraph (2)(C) by inserting and after the semicolon;

(B)

in paragraph (3) by striking ; and and inserting a period; and

(C)

by striking paragraph (4); and

(2)

in subsection (b)(2)(A) by amending subparagraph (A) to read as follows:

(A)

a qualified transportation fringe as defined in section 132(f)(1) of the Internal Revenue Code of 1986 ;

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