Transportation Flexible Savings Accounts Act of 2011

Transportation Flexible Savings Accounts Act of 2011 - Amends the Internal Revenue Code to allow certain employer-provided transportation benefits (i.e., commuting and parking costs, transit passes) under tax-qualified flexible spending arrangements.

[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1680 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 1680

To amend the Internal Revenue Code of 1986 to provide commuter flexible 
                         spending arrangements.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 2, 2011

  Mr. Weiner 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 provide commuter flexible 
                         spending arrangements.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Transportation Flexible Savings 
Accounts Act of 2011''.

SEC. 2. TRANSPORTATION FLEXIBLE SPENDING ARRANGEMENTS.

    (a) In General.--Section 125 of the Internal Revenue Code of 1986 
(relating to cafeteria plans) is amended by redesignating subsections 
(k) and (l) as subsections (l) and (m), respectively, and by inserting 
after subsection (j) the following new subsection:
    ``(k) Transportation Flexible Spending Arrangement.--
            ``(1) In general.--Notwithstanding subsection (f), 
        qualified transportation fringe shall be treated as a qualified 
        benefit for purposes of this section to the extent provided 
        under a flexible spending arrangement (as defined in section 
        106(c)).
            ``(2) Qualified transportation fringe.--For purposes of 
        this subsection, the term `qualified transportation fringe' has 
        the meaning given such term by section 132(f), except that 
        paragraph (2)(B) thereof shall be applied by substituting 
        `$100' for `$175'.''.
    (b) Modification of Regulations.--The Secretary of the Treasury 
shall make such modifications to Treasury Regulations under section 125 
of the Internal Revenue Code of 1986 as may be necessary to allow 
qualified transportation fringe (as defined in section 125(k) of such 
Code) to be offered through a flexible spending arrangement in a 
cafeteria plan.
    (c) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after the date of the enactment of this Act.
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