118th Congress · HOUSE BILLBILL

H.R. 6660 — Parking Cash-Out Act of 2023

“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.”

Taxation

Introduced Dec 7, 2023

Last action Dec 7, 2023

Pipeline · Bill → Law

Step 1

Introduced

Dec 7, 2023

Step 2

Referred

Dec 7, 2023

Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

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).

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Dec 7, 2023

Introduced in House

Dec 7, 2023

Referred to the House Committee on Ways and Means.