This bill denies a tax exclusion for qualified parking fringe benefits unless employers providing such benefits offer their employees the option to receive, in lieu of the parking benefit, the fair market value of the parking (e.g., an equivalent cash benefit or alternative tax-exempt fringe benefit).
To amend the Internal Revenue Code of 1986 to stipulate that a parking 
 benefit is not a qualified parking fringe benefit unless an employer 
 offers employees the option to receive an equivalent cash benefit or 
     alternative tax-exempt benefit in lieu of the parking benefit.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. OPTION FOR CASH BENEFIT REQUIRED.

    (a) In General.--Section 132(f)(5)(C) is amended by striking ``or 
by carpool.'' and inserting ``or by carpool if the employer offers the 
employee the option to receive, in lieu of the qualified parking, the 
fair market value of the parking.''
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2022.
                                 <all>
To amend the Internal Revenue Code of 1986 to stipulate that a parking benefit is not a qualified parking fringe benefit unless an employer offers employees the option to receive an equivalent cash benefit or alternative tax-exempt benefit in lieu of the parking benefit.
To amend the Internal Revenue Code of 1986 to stipulate that a parking benefit is not a qualified parking fringe benefit unless an employer offers employees the option to receive an equivalent cash benefit or alternative tax-exempt benefit in lieu of the parking benefit.
Official Titles - House of Representatives
Official Title as Introduced
To amend the Internal Revenue Code of 1986 to stipulate that a parking benefit is not a qualified parking fringe benefit unless an employer offers employees the option to receive an equivalent cash benefit or alternative tax-exempt benefit in lieu of the parking benefit.
Rep. Blumenauer, Earl