The Bicycle Commuter Act
Posted: Wed Jan 07, 2009 4:57 am
.
October 13, 2008, 9:30 am
Buried in the Bailout: The Bicycle Commuter Act
By Andrea Kannapell
And all it took was a global financial meltdown.
There it is, a little driblet of encouragement to ride a bike to work — way, way down in House Resolution 1424, also known as the bailout bill:
SEC. 211. TRANSPORTATION FRINGE BENEFIT TO BICYCLE COMMUTERS.
(a) In General- Paragraph (1) of section 132(f) is amended by adding at the end the following:(a) In General- Paragraph (1) of section 132(f) is amended by adding at the end the following:’(D) Any qualified bicycle commuting reimbursement’. …
The bicycle commuter benefit, which is provided in its entirety here by the League of American Bicyclists, continues on for several paragraphs, establishing “limitations on exclusions,” “applicable annual limitations,” and other assorted legalese, but the essentials are these: Starting next year, employers who provide bike parking, bathing facilities, tune-ups, or other support for bicycle commuting, can deduct up to $20 a month per participating employee from their own taxable income.
Exactly how that will work is under negotiation with the Internal Revenue Service, and it remains to be seen whether businesses will in fact begin showering their sweaty, two-wheeled workers with rewards and incentives.
But celebration is still in order.
Green, Inc from NYT
.
October 13, 2008, 9:30 am
Buried in the Bailout: The Bicycle Commuter Act
By Andrea Kannapell
And all it took was a global financial meltdown.
There it is, a little driblet of encouragement to ride a bike to work — way, way down in House Resolution 1424, also known as the bailout bill:
SEC. 211. TRANSPORTATION FRINGE BENEFIT TO BICYCLE COMMUTERS.
(a) In General- Paragraph (1) of section 132(f) is amended by adding at the end the following:(a) In General- Paragraph (1) of section 132(f) is amended by adding at the end the following:’(D) Any qualified bicycle commuting reimbursement’. …
The bicycle commuter benefit, which is provided in its entirety here by the League of American Bicyclists, continues on for several paragraphs, establishing “limitations on exclusions,” “applicable annual limitations,” and other assorted legalese, but the essentials are these: Starting next year, employers who provide bike parking, bathing facilities, tune-ups, or other support for bicycle commuting, can deduct up to $20 a month per participating employee from their own taxable income.
Exactly how that will work is under negotiation with the Internal Revenue Service, and it remains to be seen whether businesses will in fact begin showering their sweaty, two-wheeled workers with rewards and incentives.
But celebration is still in order.
Green, Inc from NYT
.