Summary: H.R.990 — 114th Congress (2015-2016)All Information (Except Text)

There is one summary for H.R.990. Bill summaries are authored by CRS.

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Introduced in House (02/13/2015)

Commuter Parity Act of 2015

Amends the Internal Revenue Code to modify the exclusion from gross income, for income tax purposes, of certain transportation benefits provided by an employer to an employee, including cash reimbursements for such benefits, to allow a monthly exclusion amount of: (1) $235 for transportation in a commuter highway vehicle from home to work and any transit pass, (2) $235 for qualified parking, and (3) $35 for qualified bicycle commuting reimbursement. Allows an annual cost-of-living adjustment to such exclusion amounts after 2016.