Summary: H.R.6173 — 114th Congress (2015-2016)All Information (Except Text)

There is one summary for H.R.6173. Bill summaries are authored by CRS.

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Introduced in House (09/26/2016)

Transit Tax Credit Act of 2016

This bill amends the Internal Revenue Code to allow a refundable tax credit for commuting mass transit costs. The credit is equal to 15% of the amount paid or incurred by the taxpayer during the year for a transit pass that the taxpayer, the taxpayer's spouse, or a dependent uses for travel between the residence and place of employment of the taxpayer, spouse, or dependent. The credit allowed for transit passes for any individual may not exceed $460 per year (adjusted for inflation after 2017).