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parenting for gnarness
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Discussion Starter · #1 ·
Anyone know how to go about getting this subsidy?

I asked my HR Dept, and they seem to have not heard of this. They did tell me that as part of our Trip Reduction Program I can get $1.50 a day, but there is lots of paperwork every month to complete for the credit.

Thanks for any info.
 

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All I know is this, which has lots of "gre(a)y" so I'm certain that all employers will interpet this new law differently.



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: ‘(D) Any qualified bicycle commuting reimbursement.’.

(b) Limitation on Exclusion- Paragraph (2) of section 132(f) is amended by striking ‘and’ at the end of subparagraph (A), by striking the period at the end of subparagraph (B) and inserting ‘, and’, and by adding at the end the following new subparagraph: ‘(C) the applicable annual limitation in the case of any qualified bicycle commuting reimbursement.’.

(c) Definitions- Paragraph (5) of section 132(f) is amended by adding at the end the following:


‘(F) DEFINITIONS RELATED TO BICYCLE COMMUTING REIMBURSEMENT-


‘(i) QUALIFIED BICYCLE COMMUTING REIMBURSEMENT- The term ‘qualified bicycle commuting reimbursement’ means, with respect to any calendar year, any employer reimbursement during the 15-month period beginning with the first day of such calendar year for reasonable expenses incurred by the employee during such calendar year for the purchase of a bicycle and bicycle improvements, repair, and storage, if such bicycle is regularly used for travel between the employee’s residence and place of employment.
‘(ii) APPLICABLE ANNUAL LIMITATION- The term ‘applicable annual limitation’ means, with respect to any employee for any calendar year, the product of $20 multiplied by the number of qualified bicycle commuting months during such year.
‘(iii) QUALIFIED BICYCLE COMMUTING MONTH- The term ‘qualified bicycle commuting month’ means, with respect to any employee, any month during which such employee--
‘(I) regularly uses the bicycle for a substantial portion of the travel between the employee’s residence and place of employment, and
‘(II) does not receive any benefit described in subparagraph (A), (B), or (C) of paragraph (1).’.



(d) Constructive Receipt of Benefit- Paragraph (4) of section 132(f) is amended by inserting ‘(other than a qualified bicycle commuting reimbursement)’ after ‘qualified transportation fringe’.

(e) Effective Date- The amendments made by this section shall apply to taxable years beginning after December 31, 2008.
 

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AKA shitbird
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2,342 Posts
kenbentit said:
Lots of room for "creative interpretation" there :yesnod: Gotta love phrases like "reasonable expenses" and "regularly uses"....
Reasonable expenses = X0 short cage deraileur and Goodridge brakelines

Regularly Uses = Rides Somo on Saturday and Hits up NRA every Sunday
 

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clockwork said:
I ride my bike to work ...........From the pit to the moutain ...har har :lol:
So far commuting on my bike has cost me about $600 bucks, the cost of my old commuter bike that was stolen off the rack outside the office. The CX bike I bought to replace this with comes instead with me and costs very little.

If my employer gets with the program, I'll start riding my mountain bike to work instead of the road bike. First upgrade I'll need is a high-quality LED / LI light with long battery life so the cars can see me coming.
 
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