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Phasing out the Mass Transit Account

This bill proposes the gradual phaseout of the Mass Transit Account by amending the Internal Revenue Code of 1986. Starting in fiscal year 2022, the rates determined for this account will be progressively reduced until reaching 0 percent after fiscal year 2025. These amendments apply to fiscal years beginning after September 30, 2021.
Key points
Internal Revenue Code Amendment: The Act amends the Internal Revenue Code of 1986 to phase out the Mass Transit Account.
Phaseout schedule: The applicable percentage will be 80% in 2022, 60% in 2023, 40% in 2024, 20% in 2025, and 0% for 2026 and each fiscal year thereafter.
Effective date: The amendments apply to fiscal years beginning after September 30, 2021.
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Additional Information
Print number: 117_HR_1519
Sponsor: Rep. Rice, Tom [R-SC-7]
Process start date: 2021-03-02
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OFFICIAL LEGAL TITLE

Highway Restoration Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1519.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-02.

What are the main provisions?

Key points include:

  • Internal Revenue Code Amendment: The Act amends the Internal Revenue Code of 1986 to phase out the Mass Transit Account.
  • Phaseout schedule: The applicable percentage will be 80% in 2022, 60% in 2023, 40% in 2024, 20% in 2025, and 0% for 2026 and each fiscal year thereafter.
  • Effective date: The amendments apply to fiscal years beginning after September 30, 2021.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Rice, Tom [R-SC-7].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Transport Public Investments