[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 924 Introduced in Senate (IS)]

112th CONGRESS
  1st Session
                                 S. 924

To amend the Internal Revenue Code of 1986 to provide commuter flexible 
             spending arrangements, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                              May 9, 2011

  Mr. Begich 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 commuter flexible 
             spending arrangements, 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 ``Family Account to Save on 
Transportation Act of 2011''.

SEC. 2. TRANSPORTATION FLEXIBLE SPENDING ARRANGEMENTS.

    (a) In General.--Section 125 of the Internal Revenue Code of 1986 
(relating to cafeteria plans) is amended by redesignating subsections 
(k) and (l) as subsections (l) and (m), respectively, and by inserting 
after subsection (j) the following new subsection:
    ``(k) Transportation Flexible Spending Arrangement.--
            ``(1) In general.--Notwithstanding subsection (f), 
        qualified transportation fringe shall be treated during the 2-
        taxable year period beginning after the date of the enactment 
        of this subsection as a qualified benefit for purposes of this 
        section to the extent provided under a flexible spending 
        arrangement (as defined in section 106(c)).
            ``(2) Qualified transportation fringe.--For purposes of 
        this subsection, the term `qualified transportation fringe' has 
        the meaning given such term by section 132(f), except that 
        paragraph (1)(A) thereof shall be applied for any month 
        immediately preceded by a 4-month period during which the 
        national average regular gasoline retail price (calculated by 
        the Energy Information Administration) exceeds such price for 
        calendar year 2010, by substituting `or personal vehicle fuel 
        cost if such transportation or fuel cost' for `if such 
        transportation'.''.
    (b) Modification of Regulations.--The Secretary of the Treasury 
shall make such modifications to Treasury Regulations under section 125 
of the Internal Revenue Code of 1986 as may be necessary to allow 
qualified transportation fringe (as defined in section 125(k)(2) of 
such Code) to be offered through a flexible spending arrangement in a 
cafeteria plan.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the date of the enactment of 
this Act.
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