COVID–19 Commuter Benefits Distribution Act

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 5525 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 5525 To allow for one-time distributions from certain transportation fringe benefit accounts. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES December 12, 2024 Mrs. Gillibrand (for herself and Mr. Schumer) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To allow for one-time distributions from certain transportation fringe benefit accounts. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``COVID-19 Commuter Benefits Distribution Act''. SEC. 2. TREATMENT OF CERTAIN DISTRIBUTIONS FROM TRANSPORTATION FRINGE BENEFIT ACCOUNTS. (a) In General.--In the case of any qualified payment from a specified transportation fringe benefit account-- (1) such qualified payment shall be includible in the gross income of the employee for the taxable yea…