Transit Tax Parity Act of 2015

Bill: 114-hr-1046
Sponsor: full_name: Del. Norton, Eleanor Holmes [D-DC-At Large]
Introduced: 2015-02-24
Policy area: Taxation
Subjects: Commuting

Employee benefits and pensions

Income tax exclusion

Public transit

Transportation costs
Latest action: action_date: 2015-02-24
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2015-02-24
action_desc: Introduced in House
text: <p><strong>Transit Tax Parity Act of 2015</strong></p> <p>This bill makes the tax exclusion for employer-provided mass transit benefits equal to the amount of the exclusion for parking benefits (i.e., $175) and makes such exclusion permanent. </p>

tv_txt: I 114th CONGRESS 1st Session H. R. 1046 IN THE HOUSE OF REPRESENTATIVES February 24, 2015 Ms. Norton (for herself, Mr. Beyer , and Mr. Connolly ) 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 make permanent the rule providing parity for the exclusion from income for employer-provided mass transit and parking benefits.

1. Short title This Act may be cited as the Transit Tax Parity Act of 2015 . 2. Parity for exclusion from income for employer-provided mass transit and parking benefits made permanent (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 $175 , and (2) by striking the last sentence. (b) Effective date The amendments made by this section shall apply to months beginning after December 31, 2014.