[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1242 Introduced in House (IH)]







105th CONGRESS
  1st Session
                                H. R. 1242

  To amend the Internal Revenue Code of 1986 to provide that certain 
    deductions of school bus owner-operators shall be allowable in 
                    computing adjusted gross income.


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                    IN THE HOUSE OF REPRESENTATIVES

                             April 8, 1997

Mr. Livingston 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 that certain 
    deductions of school bus owner-operators shall be allowable in 
                    computing adjusted gross income.

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

SECTION 1. DEDUCTIONS OF SCHOOL BUS OWNER-OPERATORS ALLOWABLE IN 
              COMPUTING ADJUSTED GROSS INCOME.

    (a) In General.--Paragraph (2) of section 62(a) of the Internal 
Revenue Code of 1986 (relating to certain trade and business deductions 
of employees) is amended by adding at the end thereof the following new 
subparagraph:
                    ``(C) Certain expenses of school bus owner-
                operators.--The deductions allowed by part VI (section 
                161 and following) which consist of expenses paid or 
                incurred by the taxpayer in connection with the 
                performance by the taxpayer of services as an employee 
                while driving a school bus (as defined in section 
                4221(d)(7)(C)) owned by the employee.''
    (b) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 1996.
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