Bike Commuter Tax Credit
This fall, as part of the federal bailout package, an unrelated piece of legislation was adopted by Congress. Starting January 1, 2009, employers can provide a transportation fringe benefit of $20 per month to employees that bike to work.
The legislation provides a tax incentive to tax-paying employers, but non-tax-paying employers like universities and cities may consider providing the credit to enhance employee morale, reduce insurance claims, and reduce transportation costs.
Does anyone know of cities that are providing a bike commuter credit as a result of this legislation?