What is the official ID of this bill?
The official print number for this legislation is S 1724.
Tax Benefits Reinstated and Expanded for Bicycle and Scooter Commuting.
This law reinstates and expands the ability for employees to receive tax-free benefits from employers for commuting by bicycle or scooter. The benefit covers costs related to the purchase, rental, repair, and storage of equipment, including electric bikes and scooters, and bikeshare programs. This change aims to reduce commuting costs for individuals choosing active transportation.
Key points
Employers can once again offer tax-free fringe benefits for qualified bicycle commuting.
The benefit is expanded to include electric bicycles, electric scooters, and costs like repair, storage, and bikeshare rentals.
The maximum tax-free amount is limited to 30% of the monthly limit set for mass transit benefits.
The changes apply retroactively to taxable years beginning after December 31, 2022.
Status:
Expired
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