Commuters' Tax Act

Summary

Commuter's Tax Act - Allows a tax credit, under the Internal Revenue Code, in an amount equal to the amounts paid by an individual during the taxable year for reasonable public transit transportation expenses between his or her place of residence and place of employment. Limits such credit to $200. Allows a tax credit, in the case of a disabled individual, for reasonable transportation expenses between his or her place of residence and place of employment. Limits such credit to $750. Authorizes taxpayers to elect a tax deduction in lieu of the tax credit. Limits such deduction to $800, except in the case of a disabled individual the maximum deduction shall be $3,000. Defines the terms used in this Act.

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1 official file

• Introduced in House

  summary · EN · 15 March 1976

  Open at official source

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