Transit Tax Credit Act of 2016

Summary

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).

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 26 September 2016

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• Introduced in House (PDF)

  Introduced in House · EN · 26 September 2016

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 26 September 2016

  Open at official source

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