[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[S. 217 Introduced in Senate (IS)]







107th CONGRESS
  1st Session
                                 S. 217

To amend the Internal Revenue Code of 1986 to provide a uniform dollar 
 limitation for all types of transportation fringe benefits excludable 
               from gross income, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            January 30, 2001

  Mr. Schumer (for himself, Mr. Warner, Mr. Durbin, Mr. Santorum, Mr. 
   Sarbanes, Mr. Chafee, Mr. Voinovich, Mr. Kerry, Mr. Dodd, and Ms. 
   Mikulski) introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to provide a uniform dollar 
 limitation for all types of transportation fringe benefits excludable 
               from gross income, and for other purposes.

    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 Benefits Equity Act of 
2001''.

SEC. 2. UNIFORM DOLLAR LIMITATION FOR ALL TYPES OF TRANSPORTATION 
              FRINGE BENEFITS.

    (a) In General.--Subparagraph (A) of section 132(f)(2) of the 
Internal Revenue Code of 1986 (relating to limitation on exclusion) is 
amended by striking ``$65'' and inserting ``$175''.
    (b) Conforming Amendment.--Section 9010 of the Transportation 
Equity Act for the 21st Century is amended by striking subsection (c).
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2001.

SEC. 3. CLARIFICATION OF FEDERAL EMPLOYEE BENEFITS.

    Section 7905 of title 5, United States Code, is amended--
            (1) in subsection (a)--
                    (A) in paragraph (2)(C) by inserting ``and'' after 
                the semicolon;
                    (B) in paragraph (3) by striking ``; and'' and 
                inserting a period; and
                    (C) by striking paragraph (4); and
            (2) in subsection (b)(2)(A) by amending subparagraph (A) to 
        read as follows:
                    ``(A) a qualified transportation fringe as defined 
                in section 132(f)(1) of the Internal Revenue Code of 
                1986;''.
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