Commuter Savings Act of 2012 - Amends the Internal Revenue Code to extend through 2013 the equalization of the exclusion from gross income for employer-provided commuter transit and parking benefits.
Reduces appropriations to the Prevention and Public Health Fund established by the Patient Protection and Affordable Care Act by the amount of the revenue estimated to be lost by this Act.
[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6066 Introduced in House (IH)]
112th CONGRESS
2d Session
H. R. 6066
To amend the Internal Revenue Code of 1986 to extend the parity between
the exclusion from income for employer-provided mass transit and
parking benefits.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
June 29, 2012
Ms. Hayworth (for herself, Mr. Dold, and Mr. King of New York)
introduced the following bill; which was referred to the Committee on
Ways and Means, and in addition to the Committee on Energy and
Commerce, for a period to be subsequently determined by the Speaker, in
each case for consideration of such provisions as fall within the
jurisdiction of the committee concerned
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to extend the parity between
the exclusion from income for employer-provided mass transit and
parking benefits.
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 ``Commuter Savings Act of 2012''.
SEC. 2. EXTENSION OF PARITY FOR EXCLUSION FROM INCOME FOR EMPLOYER-
PROVIDED MASS TRANSIT AND PARKING BENEFITS.
(a) In General.--Paragraph (2) of section 132(f) of the Internal
Revenue Code of 1986 is amended by striking ``January 1, 2012'' and
inserting ``January 1, 2014''.
(b) Effective Date.--The amendments made by this section shall
apply to months after December 31, 2011.
SEC. 3. REDUCTION IN APPROPRIATIONS TO PREVENTION AND PUBLIC HEALTH
FUND.
The amounts appropriated to the Prevention and Public Health Fund
established under section 4002 of the Patient Protection and Affordable
Care Act shall be reduced by an amount equal to the amount estimated by
the Secretary of the Treasury to be the reduction in revenues to the
Federal Government by reason of the amendments made by section 1.
<all>
Introduced in House
Introduced in House
Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Health.
Sponsor introductory remarks on measure. (CR H4783)
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