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HR 1498 IH
110th CONGRESS
1st Session
H. R. 1498
To amend the Internal Revenue Code of 1986 to extend the transportation fringe benefit to bicycle commuters.
IN THE HOUSE OF REPRESENTATIVES
March 13, 2007
Mr. BLUMENAUER (for himself, Mrs. CAPPS, Mr. HINCHEY, Mr. MORAN of Virginia, Mr. MCGOVERN, Mr. SNYDER, Mr. RUPPERSBERGER, Mr. MCDERMOTT, Mr. FARR, and Mr. CAPUANO) 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 extend the transportation fringe benefit to bicycle commuters.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. EXTENSION OF TRANSPORTATION FRINGE BENEFIT TO BICYCLE COMMUTERS.
(a) In General- Paragraph (1) of section 132(f) of the Internal Revenue Code of 1986 (relating to general rule for qualified transportation fringe) is amended by adding at the end the following:
(b) Bicycle Commuting Allowance Defined- Paragraph (5) of section 132(f) of such Code (relating to definitions) is amended by adding at the end the following:
(c) Limitation on Exclusion- Paragraph (2) of section 132(f) of such Code is amended by striking `subparagraphs (A) and (B)' and inserting `subparagraphs (A), (B), and (D)'.
(d) Effective Date- The amendments made by this section shall apply to taxable years beginning after December 31, 2007.
U.S. Congress - Text of H.R.1498 as Introduced in House To amend the Internal Revenue Code of 1986 to extend the transportation fringe benefit ...
