FSA Act

Bill: 114-hr-2207
Sponsor: full_name: Rep. Walters, Mimi [R-CA-45]
Introduced: 2015-05-01
Policy area: Taxation
Subjects: Employee benefits and pensions

Health care costs and insurance

Income tax exclusion
Latest action: action_date: 2015-05-01
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2015-05-01
action_desc: Introduced in House
text: <p><strong>Flexible Spending Account Act or the FSA Act</strong></p> <p>This bill amends the Internal Revenue Code to repeal after 2015 the $2,500 limitation on salary reduction contributions to a health flexible spending arrangement under a cafeteria plan. </p>

tv_txt: I 114th CONGRESS 1st Session H. R. 2207 IN THE HOUSE OF REPRESENTATIVES May 1, 2015 Mrs. Mimi Walters of California (for herself, Mr. Rodney Davis of Illinois , Mr. Lamborn , Mr. Joyce , Mr. Bishop of Michigan , and Mr. Carter of Texas ) 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 repeal the dollar limitation on contributions to flexible spending accounts.

1. Short title This Act may be cited as the Flexible Spending Account Act or the FSA Act . 2. Repeal dollar limitation on contributions to flexible spending accounts (a) In general Section 125 of the Internal Revenue Code of 1986 is amended— (1) by striking subsection (i), and (2) by redesignating subsections (j), (k), and (l) as subsections (i), (j), and (k), respectively. (b) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2015.