Concerning the replacement of the income tax deduction for amounts spent by an employer to provide alternative transportation options to employees with an income tax credit for amounts spent by an employer for that purpose.
2022 Regular Session
Fiscal Policy & Taxes
Transportation & Motor Vehicles
Legislative Oversight Committee Concerning Tax Policy. The bill replaces an existing income tax deduction for expenses incurred by employers when providing alternative transportation options to employees with a refundable income tax credit of 50% of such expenses for such employers. The credit is allowed for income tax years beginning on or after January 1, 2023, but before January 1, 2033. (Note: This summary applies to this bill as introduced.)