H.R. 6122 — Introduced in House

I 116th CONGRESS 2d Session H. R. 6122 IN THE HOUSE OF REPRESENTATIVES March 5, 2020Mr. Rose of New York introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to allow a credit against tax for bridge tolls. 1. Short title This Act may be cited as the Tax Relief for Bridge Tolls Act of 2020. 2. Credit for bridge tolls (a) In general Subpart A of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 25D the following new section: 25E. Credit for bridge tolls (a) Allowance of credit In the case of an individual, there shall be allowed as a credit against the tax imposed by this chapter an amount equal to 50 percent of so much of the amount paid for bridge tolls during the taxable year as exceeds $1,000 (twice such amount in the case of a joint return). (b) Limitations (1) Income limit The credit allowed under subsection (a) shall be reduced by $10 for each $100 by which the taxpayer’s adjusted gross income exceeds $150,000 (twice such amount in the case of a joint return). (2) Toll-based limit No toll for a bridge the regular peak-hour tolls for which are less than $11.00 shall be taken into account under subsection (a). (c) Denial of double benefit No credit shall be allowed under subsection (a) for any expense for which a deduction or credit is allowed under any other provision of this chapter. . (b) Clerical amendment The table of sections for subpart A of part IV of subchapter A of chapter 1 of such Code is amended by inserting after the item relating to section 25D the following new item: Sec. 25E. Credit for bridge tolls. . (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2020.