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.

Bill: 113-hr-3739
Sponsor: full_name: Rep. Edwards, Donna F. [D-MD-4]
Introduced: 2013-12-12
Policy area: Taxation
Subjects: Commuting

Employee benefits and pensions

Income tax exclusion

Transportation costs
Latest action: action_date: 2013-12-12
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2013-12-12
action_desc: Introduced in House
text: <p>Amends the Internal Revenue Code to equalize and increase to $245, with a cost-of-living adjustment to such increased amount&nbsp;after 2013, the tax exclusion for both transportation and parking fringe benefits. </p>

tv_txt: I 113th CONGRESS 1st Session H. R. 3739 IN THE HOUSE OF REPRESENTATIVES December 12, 2013 Ms. Edwards 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, and for other purposes.

1. 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.