Commuter Benefits Equity Act of 2015

Bill: 114-s-1792
Sponsor: full_name: Sen. Schumer, Charles E. [D-NY]
Introduced: 2015-07-16
Policy area: Taxation
Subjects: Commuting

Employee benefits and pensions

Government employee pay, benefits, personnel management

Income tax exclusion

Transportation costs
Latest action: action_date: 2015-07-16
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2015-07-16
action_desc: Introduced in Senate
text: <p><strong>Commuter Benefits Equity Act of 2015</strong></p> <p>Amends the Internal Revenue Code to equalize and increase to $250, with a cost-of-living adjustment after 2015, the tax exclusion for both transportation and parking fringe benefits. </p> <p>Authorizes agencies to establish a program involving such benefits in lieu of transit passes to encourage commuting by federal employees by means other than single-occupancy motor vehicles.</p>

tv_txt: II 114th CONGRESS 1st Session S. 1792 IN THE SENATE OF THE UNITED STATES July 16, 2015 Mr. Schumer (for himself, Mr. Cardin , Mr. Casey , Mr. Carper , Mr. Menendez , Mr. Merkley , Mrs. Gillibrand , Mr. Blumenthal , and Mr. Markey ) 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 2015 . 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 $250 , (2) by striking $175 in subparagraph (B) and inserting $250 , 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 2015 , and (3) by striking 1998 and inserting 2014 . (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2014. 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; .