Amends the Internal Revenue Code to include qualified carsharing and ridesharing reimbursement as a qualified transportation fringe benefit for purposes of the tax exclusion for such benefits.
[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5129 Introduced in House (IH)]
111th CONGRESS
2d Session
H. R. 5129
To amend the Internal Revenue Code of 1986 to treat carsharing and
ridesharing reimbursement arrangements as qualified transportation
fringe benefits.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
April 22, 2010
Mr. Hodes (for himself and Mr. Carnahan) 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 treat carsharing and
ridesharing reimbursement arrangements as qualified transportation
fringe benefits.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. TREATMENT OF RIDESHARING REIMBURSEMENT ARRANGEMENTS AS
QUALIFIED TRANSPORTATION FRINGE BENEFITS.
(a) In General.--Paragraph (1) of section 132(f) of the Internal
Revenue Code of 1986 is amended by adding at the end the following:
``(E) Any qualified carsharing or ridesharing
reimbursement.''.
(b) Limitation on Exclusion.--Subparagraph (A) of section 132(f)(2)
of such Code is amended by striking ``subparagraphs (A) and (B)'' and
inserting ``subparagraphs (A), (B), and (E)''.
(c) Qualified Ridesharing Reimbursement Defined.--Paragraph (5) of
section 132(f) is amended by adding at the end the following:
``(G) Qualified carsharing or ridesharing
reimbursement.--
``(i) In general.--The term `qualified
carsharing or ridesharing reimbursement' means,
with respect to transportation provided in a
qualified highway vehicle, reimbursement
described in clause (iv) under which a
passenger, using an electronic transfer of
funds or similar mechanism, pays for costs
associated with travel to and from a residence
for the purposes of getting to and from a place
of employment.
``(ii) Limitation.--The amount taken into
account under clause (i) with respect to any
transportation shall not exceed the costs
directly associated with travel to and from a
residence and a place of employment.
``(iii) Qualified highway vehicle.--The
term `qualified highway vehicle' means a
highway vehicle which has a seating capacity of
more than 1 but not more than 8 adults,
excluding taxi-cabs, limousines, and other for-
hire vehicles.
``(iv) Reimbursement.--Reimbursement is
described in this clause if the reimbursement
is by cash, voucher, or similar item.
``(v) Determination of costs.--For purposes
of clause (i), costs shall be determined in
accordance with regulations or other guidance
prescribed by the Secretary in consultation
with the Secretary of Transportation.
``(vi) Substantiation.--Clause (i) shall
not apply to any transportation unless the
taxpayer substantiates the length of such
transportation through the use of global
positioning satellite technology or other means
of substantiation as authorized by the
Secretary.''.
(d) Coordination With Bicycle Commuting.--Subclause (II) of section
132(f)(5)(F)(iii) of such Code is amended by striking ``or (C)'' and
inserting ``(C), or (D)''.
(e) Inflation Adjustment Freeze.--Paragraph (6) of section 132(f)
of such code is amended by adding at the end the following:
``(C) Inflation adjustment freeze.--The inflation
adjustment mentioned in this paragraph shall not be
made for taxable years 2011 through 2021.''.
(f) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2010.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Llama 3.2 · runs locally in your browser
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line