arrow_back Back to App

Parking Benefit Changes: Cash Option for Employees

New rules change how employer-provided parking benefits are treated for tax purposes. For parking to be a qualified tax-exempt benefit, employers must offer employees the option to receive an equivalent cash amount or another tax-exempt benefit instead of the parking. This could impact how employers structure their benefit packages and give employees more flexibility.
Key points
Employers must offer a cash or alternative tax-exempt benefit for parking to qualify as a tax-free fringe benefit.
These changes apply to tax years beginning after December 31, 2022.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_8555
Sponsor: Rep. Blumenauer, Earl [D-OR-3]
Process start date: 2022-07-28
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

To amend the Internal Revenue Code of 1986 to stipulate that a parking benefit is not a qualified parking fringe benefit unless an employer offers employees the option to receive an equivalent cash benefit or alternative tax-exempt benefit in lieu of the parking benefit.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_8555.

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 2022-07-28.

What are the main provisions?

Key points include:

  • Employers must offer a cash or alternative tax-exempt benefit for parking to qualify as a tax-free fringe benefit.
  • These changes apply to tax years beginning after December 31, 2022.
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. Blumenauer, Earl [D-OR-3].

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 2025-12-28.

CATEGORIES

Taxes Labor