To provide valuation of employee personal use of noncommercial aircraft.

1. Adds SECTION 1. VALUATION OF EMPLOYEE PERSONAL USE OF NONCOMMERCIAL AIRCRAFT at the end of the bill

   Adds a section

   In S. 2020 · Placed on Calendar Senate

   (1) by striking "The Secretary" and inserting the

   Inserted: SECTION 1. VALUATION OF EMPLOYEE PERSONAL USE OF NONCOMMERCIAL AIRCRAFT.

   Inserted: (a) In General.--For purposes of Federal income tax inclusion, the value of any employee personal use of noncommercial aircraft shall equal the excess (if any) of--

   Inserted: (1) greater of--

   Inserted: (A) the fair market value of such use, or

   Inserted: (B) the actual cost of such use (including all fixed and variable costs), over

   Inserted: (2) any amount paid by or on behalf of such employee for such use.

   Inserted: (b) Effective Date.--Subsection (a) shall apply to use after the date of the enactment of this Act.

   Original wording

   At the end of the bill add the following:

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As printed