Tax Relief for Bridge Tolls Act of 2020

Bill: 116-hr-6122
Sponsor: full_name: Rep. Rose, Max [D-NY-11]
Introduced: 2020-03-05
Policy area: Taxation
Subjects: Income tax credits

Roads and highways

State and local taxation

Transportation costs

User charges and fees
Latest action: action_date: 2020-03-05
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2020-03-05
action_desc: Introduced in House
text: <p><b>Tax Relief for Bridge Tolls Act of 2020</b></p> <p>This bill allows individual taxpayers an income-based tax credit for amounts paid for bridge tolls. It provides for a 50% credit for toll amounts exceeding $1,000 in a taxable year, but disqualifies a toll that is less than $11.00 in regular peak hours.</p>

tv_txt: I 116th CONGRESS 2d Session H. R. 6122 IN THE HOUSE OF REPRESENTATIVES March 5, 2020 Mr. Rose of New York 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 allow a credit against tax for bridge tolls.

1. Short title This Act may be cited as the Tax Relief for Bridge Tolls Act of 2020 . 2. Credit for bridge tolls (a) In general Subpart A of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 25D the following new section: 25E. Credit for bridge tolls (a) Allowance of credit In the case of an individual, there shall be allowed as a credit against the tax imposed by this chapter an amount equal to 50 percent of so much of the amount paid for bridge tolls during the taxable year as exceeds $1,000 (twice such amount in the case of a joint return). (b) Limitations (1) Income limit The credit allowed under subsection (a) shall be reduced by $10 for each $100 by which the taxpayer’s adjusted gross income exceeds $150,000 (twice such amount in the case of a joint return). (2) Toll-based limit No toll for a bridge the regular peak-hour tolls for which are less than $11.00 shall be taken into account under subsection (a). (c) Denial of double benefit No credit shall be allowed under subsection (a) for any expense for which a deduction or credit is allowed under any other provision of this chapter. . (b) Clerical amendment The table of sections for subpart A of part IV of subchapter A of chapter 1 of such Code is amended by inserting after the item relating to section 25D the following new item: Sec. 25E. Credit for bridge tolls. . (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2020.