[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2614 Introduced in House (IH)]






108th CONGRESS
  1st Session
                                H. R. 2614

 To amend the Internal Revenue Code of 1986 to equalize the exclusion 
from gross income of parking and transportation fringe benefits and to 
            provide for a common cost-of-living adjustment.


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                    IN THE HOUSE OF REPRESENTATIVES

                             June 26, 2003

Mr. McGovern (for himself, Mr. Shays, and Mr. Ferguson) 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 equalize the exclusion 
from gross income of parking and transportation fringe benefits and to 
            provide for a common cost-of-living adjustment.

    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 Benefit Equity Act of 
2003''.

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

    (a) In General.--Section 132(f)(2) of the Internal Revenue Code of 
1986 (relating to limitation on exclusion) is amended--
            (1) by striking ``$100'' in subparagraph (A) and inserting 
        ``$190'', and
            (2) by striking ``$175'' in subparagraph (B) and inserting 
        ``$190''.
    (b) Inflation Adjustment Conforming Amendments.--Subparagraph (A) 
of section 132(f)(6) of the Internal Revenue Code of 1986 (relating to 
inflation adjustment) is amended--
            (1) by striking the last sentence,
            (2) by striking ``1999'' and inserting ``2003'', and
            (3) by striking ``1998'' and inserting ``2002''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2003.
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