Prohibits the Internal Revenue Service from issuing any regulation between May 1, 1978, and December 31, 1979, and from issuing any proposed or final regulation which would be effective before 1980, relating to the taxation of employee fringe benefits in gross income.
Requires that the application of the income tax, Federal Insurance Contributions Act, Federal Unemployment Tax Act, and withholding provisions relating to the treatment of transportation expenses paid or incurred after 1976 and before January 1, 1980, in travelling between a taxpayer's residence and place of work, shall be made fully in accordance with the rules in effect prior to the issuance of Revenue Ruling 76-453 (November 22, 1976).
Excludes from gross income certain statutory or negotiated subsistence allowances received by State law enforcement officers after 1969 and before 1978 if the officers request such exclusion before April 15, 1979.