[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 775 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 775

  To amend the Internal Revenue Code of 1986 to inflation adjust the 
 $5,000 limitation with respect to dependent care assistance programs 
                  and flexible spending arrangements.


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 31, 2017

Mr. Moolenaar introduced the following bill; which was referred to the 
                      Committee on Ways and Means

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                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to inflation adjust the 
 $5,000 limitation with respect to dependent care assistance programs 
                  and flexible spending arrangements.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. INFLATION ADJUSTMENT FOR DEPENDENT CARE ASSISTANCE PROGRAMS 
              AND FLEXIBLE SPENDING ARRANGEMENTS.

    (a) In General.--Section 129(a)(2) of the Internal Revenue Code of 
1986 is amended by adding at the end the following new subparagraph:
                    ``(D) Inflation adjustment.--In the case of any 
                taxable year beginning after December 31, 2017, the 
                dollar amounts in subparagraph (A) shall be increased 
                by an amount equal to--
                            ``(i) such amount, multiplied by
                            ``(ii) the cost-of-living adjustment 
                        determined under section 1(f)(3) for the 
                        calendar year in which such taxable year begins 
                        by substituting `calendar year 2014' for 
                        `calendar year 1992' in subparagraph (B) 
                        thereof.
                If any increase determined under this paragraph is not 
                a multiple of $50, such increase shall be rounded to 
                the next lowest multiple of $50.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2017.
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