A bill to amend the Internal Revenue Code of 1954 to provide, in the case of an individual, a credit (not to exceed $200) or a deduction (not to exceed $800) for public transit fare expenditures incurred in traveling to and from work; and in the case of handicapped individual unable to use public transportation, a credit (not to exceed $750) or a deduction (not to exceed $3,000) for reasonable transportation expenses incurred in traveling to and from work.
Commuter's Tax Act - Allows a tax credit, under the Internal Revenue Code, in an amount equal to the amounts paid by an individual during the taxable year for reasonable public transit transportation expenses between his or her place of residence and place of employment. Limits such credit to $200.
Allows a tax credit, in the case of a disabled individual, for reasonable transportation expenses between his or her place of residence and place of employment.
Limits such credit to $750.
Authorizes taxpayers to elect a tax deduction in lieu of the tax credit.
Limits such deduction to $800, except in the case of a disabled individual the maximum deduction shall be $3,000.
Defines the terms used in this Act.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line