Ben sent me a link that I am compelled to share:
http://www.youtube.com/watch?v=Ip8nozp7vs8
This is Patrick McHenry the US Congressional Representative from the 10th district in North Carolina.
This all seems a bit silly but, exerpted below is the paragraph from the Renewable Energy Act of 2007 that got rep. McHenry in a snit:
SEC. 205. EXTENSION OF TRANSPORTATION FRINGE BENEFIT TO
BICYCLE COMMUTERS.
(a) In General.--Paragraph (1) of section 132(f) of the Internal Revenue Code of 1986 (relating to general rule for qualified transportation fringe) is amended by adding at the end the following:
``(D) Any qualified bicycle commuting reimbursement.''.
(b) Limitation on Exclusion.--Paragraph (2) of section 32(f) of such Code is amended by striking ``and'' at the end of subparagraph (A), by striking the period at the end of subparagraph (B) and inserting ``, and'', and by adding at the end the following new subparagraph:
``(C) the applicable annual limitation in the case of any qualified bicycle commuting reimbursement.''.
(c) Definitions.--Paragraph (5) of section 132(f) of such Code (relating to definitions) is amended by adding at the end the following:
``(F) Definitions related to bicycle commuting
reimbursement.--
``(i) Qualified bicycle commuting reimbursement.--The term ‘qualified bicycle commuting reimbursement' means, with respect to any calendar year, any employer reimbursement during the 15-month period beginning with the first day of such calendar year for reasonable expenses incurred by the employee during such calendar year for the purchase of a bicycle and bicycle improvements, repair, and storage, if such bicycle is regularly used for travel between the employee's residence and place of employment.
``(ii) Applicable annual limitation.--The term `applicable annual limitation' means, with respect to any employee for any calendar year, the product of $20 multiplied by the number of qualified bicycle commuting months during such year.
``(iii) Qualified bicycle commuting month.--The term
`qualified bicycle commuting month' means, with respect to any employee, any month during which such employee-- ``(I) regularly uses the bicycle for a substantial portion of the travel between the employee's residence and place of employment, and
``(II) does not receive any benefit described in
subparagraph (A), (B), or (C) of paragraph (1).''.
(d) Constructive Receipt of Benefit.--Paragraph (4) of section 132(f) is amended by inserting ``(other than a qualified bicycle commuting reimbursement)'' after
``qualified transportation fringe''.
(e) Effective Date.--The amendments made by this section shall apply to taxable years beginning after December 31, 2007.
Now, you've all heard the term, "lawyer-speak", this is a fine example. It seems to me that perhaps, a better use of congressional time may be to suggest language more like, "hey, take out zero and insert $20.00 under the part about employer re-imbursement for riding your bike to work."
I would also be remiss if I did not add, that we all should be contacting our congressional representatives, from both houses, to be sure that they support any benefit that may accrue from riding a bike.
Thanks for tuning in - get out and ride!