I
111th CONGRESS
1st Session
H. R. 971
IN THE HOUSE OF REPRESENTATIVES
February 10, 2009
Mr. Weiner (for himself, Mr. Ryan of Ohio, and Ms. Shea-Porter) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to provide commuter flexible spending arrangements.
Short title
This Act may be cited as the Transportation Flexible Savings Accounts Act of 2009
.
Transportation flexible spending arrangements
In general
Section 125 of the Internal Revenue Code of 1986 (relating to cafeteria plans) is amended by redesignating subsections (i) and (j) as subsections (j) and (k), respectively, and by inserting after subsection (h) the following new subsection:
Transportation flexible spending arrangement
In general
Notwithstanding subsection (f), qualified transportation fringe shall be treated as a qualified benefit for purposes of this section to the extent provided under a flexible spending arrangement (as defined in section 106(c)).
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 (2)(B) thereof shall be applied by substituting $100
for $175
.
.
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(h) of such Code) to be offered through a flexible spending arrangement in a cafeteria plan.
Effective date
The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.