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Synopsis As Introduced Creates the Transportation Benefits Program Act. Requires all covered employers to offer at least one transportation benefit program. Provides that the employer may choose between providing a program consistent with federal law that allows employees to elect to exclude from taxable wages and compensation the employee's commuting costs incurred for the purchase of a transit pass to use public transit or for the purchase of qualified parking, or a program under which the employer supplies a transit pass for the particular qualifying public transit requested by the covered employee or reimburses the covered employee for payments made for the use of qualified parking. Defines terms. Effective January 1, 2018.
Fiscal Note (Dept. of Revenue)
The estimated impact of this bill is a reduction in individual income tax revenue of between $128 Million to $183 Million annually.
House Floor Amendment No. 2 Replaces everything after the enacting clause. Inserts the substance of the introduced bill except that it limits the program to the area under the jurisdiction of the Regional Transportation Authority. Provides that the bill applies to employers with 25 full-time employees rather than 20 employees. Excludes from the scope of the bill areas in which regularly-scheduled transit service does not operate. Removes government entities from the scope of the Act. Defines terms. Effective January 1, 2018.
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