[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2459 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 2459

  To amend the Internal Revenue Code of 1986 to provide individuals a 
       deduction for certain mass public transportation expenses.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 23, 2007

  Mr. Fossella (for himself and Mr. King of New York) 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 individuals a 
       deduction for certain mass public transportation expenses.

    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 ``Reduce Individuals' Dependence on 
Energy Act of 2007'' or as the ``RIDE Act of 2007'' .

SEC. 2. DEDUCTION FOR MASS PUBLIC TRANSPORTATION EXPENSES.

    (a) In General.--Part VII of subchapter B of chapter 1 of the 
Internal Revenue Code of 1986 (relating to additional itemized 
deductions for individuals) is amended by redesignating section 224 as 
section 225 and by inserting after section 223 the following new 
section:

``SEC. 224. MASS PUBLIC TRANSPORTATION EXPENSES.

    ``(a) In General.--In the case of an individual, there shall be 
allowed as a deduction the aggregate amount paid or incurred by the 
taxpayer during the taxable year for transportation for the taxpayer on 
mass transit facilities which are owned or operated by a Federal, 
State, or local government, or a political subdivision thereof.
    ``(b) Limitation.--The amount allowed as a deduction under 
subsection (a) with respect to any taxpayer for any taxable year shall 
not exceed $1320 (twice such amount in the case of a joint return if 
neither spouse is described in subsection (c) for the taxable year).
    ``(c) Employees Receiving Transportation Fringe Benefits 
Ineligible.--Amounts paid or incurred for transportation of an 
individual during any taxable year shall not be taken into account 
under subsection (a) if such individual receives any qualified 
transportation fringe which is excludable from gross income under 
section 132 for such taxable year.
    ``(d) Inflation Adjustment.--
            ``(1) In general.--In the case of any taxable year 
        beginning after 2008, the dollar amount contained in subsection 
        (b) shall be increased by an amount equal to--
                    ``(A) such dollar amount, multiplied by
                    ``(B) the cost-of-living adjustment determined 
                under section 1(f)(3) for the calendar year in which 
                the taxable year begins determined by substituting 
                `calendar year 2007' for `calendar year 1992'.
            ``(2) Rounding.--If any increase determined under paragraph 
        (1) is not a multiple of $5, such increase shall be rounded to 
        the next lowest multiple of $5.''.
    (b) Deduction Allowed in Computing Adjusted Gross Income.--Section 
62(a) of such Code is amended by inserting after paragraph (20) the 
following new paragraph:
            ``(20) Mass public transportation expenses.--The deduction 
        allowed by section 224.''.
    (c) Clerical Amendment.--The table of sections for part VII of 
subchapter B of chapter 1 of such Code is amended by redesignating the 
item relating to section 224 as an item relating to section 225 and by 
inserting before such item the following new item:

``Sec. 224. Mass public transportation expenses.''.
    (d) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2007.
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