Via BikePortland, Jonathan Maus writes that Congressman Ron Kind (D-WI) introduced The Public Health Investment Today (PHIT) Act of 2009 (H.R. 2105). This act would allow taxpayers to allot money in a pre-tax flex account to put towards “qualified sports and fitness expenses.”
Now, mind you, only $250 could be alloted towards purchase of an item. Overall, this bill is aimed at increasing overall fitness participation, not specifically bicycles.
If the bill passes, section 213(d) of the Internal Revenue Code of 1986 would be amended to include a subparagraph for, “qualified sports and fitness expenses.” Expenses covered under the new law would include; membership at a fitness center, participation or instruction in a program of physical exercise or physical activity, and “equipment for use in a program (including a self-directed program) of physical exercise or physical activity.”
The bill has text to disallow use of funds for joining country clubs, golf courses, and horse riding facilities. $250 might not sound like much, but it’s comparable to the $20 per month employer reimbursement which the IRS recently adopted.