I 112th CONGRESS 1st Session H. R. 2412 IN THE HOUSE OF REPRESENTATIVES July 6, 2011 Mr. McGovern (for himself, Mr. Ruppersberger, Mrs. Capps, Mr. Connolly of Virginia, Mr. Grijalva, Mr. Moran, Ms. Richardson, Mr. Capuano, Mr. Farr, Mr. Rothman of New Jersey, Mr. Nadler, Mr. Hinchey, Ms. Schwartz, Mr. Blumenauer, Mr. Davis of Illinois, Mr. Crowley, Mr. Sires, Mr. Kucinich, Mr. Serrano, Mr. Olver, Mr. Sarbanes, Ms. Tsongas, Ms. Hirono, and Mr. Quigley) 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.

1.

Short title

This Act may be cited as the Commuter Benefits Equity Act of 2011.

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 $230, and (2)by striking $175 in subparagraph (B) and inserting $230. (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 2012, and (3)by striking 1998 and inserting 2011. (c)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2011.