Amends the Internal Revenue Code to provide special rules for tax exclusion purposes for determining the value of air transportation provided to an employee by an employer which is not a commercial airline. Sets forth the method of calculating the value of such transportation based on the weight of the aircraft and whether or not the employee is a key employee (an employee who has control over the use, scheduling, or destination of the aircraft).
Introduced in Senate
Read twice and referred to the Committee on Finance.
Committee on Finance requested executive comment from OMB, Treasury Department, Transportation Department.
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