1. Short title
This Act may be cited as the “Commuter Benefits Equity Act of 2013”.
Commuter Benefits Equity Act of 2013
A BILL
To amend the Internal Revenue Code of 1986 to equalize the exclusion from gross income of parking and transportation fringe benefits and to provide for a common cost-of-living adjustment, and for other purposes.
2. Uniform dollar limitation for all types of transportation fringe benefits
by striking “$100” in subparagraph (A) and inserting “$245”,
by striking “$175” in subparagraph (B) and inserting “$245”, and
by striking the last sentence.
Inflation adjustment conforming amendments— Subparagraph (A) of section 132(f)(6) of the Internal Revenue Code of 1986 is amended—
by striking the last sentence,
by striking “1999” and inserting “2013”, and
by striking “1998” and inserting “2012”.
Effective date— The amendments made by this section shall apply to taxable years beginning after December 31, 2013.
3. Clarification of Federal employee benefits
Section 7905 of title 5, United States Code, is amended—
in subsection (a)—
in paragraph (2)(C) by inserting “and” after the semicolon;
in paragraph (3) by striking “; and” and inserting a period; and
by striking paragraph (4); and
in subsection (b)(2)(A) by amending subparagraph (A) to read as follows:
“(A) a qualified transportation fringe as defined in section 132(f)(1) of the Internal Revenue Code of 1986;”