So I'm browsing recently passed HR1424 this afternoon, as few citizens and a few congress-people have done as well, and randomly find a resolution for the employers of bicycle commuters, as follows:
So I do a quick search and find this little known addition hasn't gone overlooked by everyone in the country. $20 bucks per month for each commuter - shit, that's gonna help my company write off in the neighborhood of 1000 big ones every year - time to rejoice for one Earl Blumenauer, at least.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.
Speaking of money, let's take a look at how my 401k is doing this year...
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiWkMKlgjnvUmnahPSC32bkBLfz0JnIxn3uFu9kYKbdNCjJVNwIZDMJiDkn1pUo9MJ-Bk3n5J_IiBz6gHUSpk0iwbj2Ie1KOxShcBnh9DpDT3F0PzSMm8MJz8uN7-L9SR7ujwaqCRswvOE/s400/marks401k.jpg)
Here's me last week after three or so hours of gardening at a farm in Colorado. That bike will soon be mine - perhaps as early as when my 401k picks up a bit...
![on the BOSS](http://farm4.static.flickr.com/3284/2912916306_990bb09d9c.jpg)
1 comment:
Save yer 401K for some real Ital-carbo-mumbo-jumbo. That there orange beast's got a Sweetskinz on it! C'mon ...
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