SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2001 SESSION
010620564Patrons-- Whipple, Byrne, Edwards, Miller, Y.B., Ticer and Williams; Delegates: Amundson, Brink, Larrabee, McQuigg, Parrish, Plum, Van Landingham and Williams
Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding in Article 13 of Chapter 3 of Title 58.1 a section numbered 58.1-439.12:1 as follows:
§ 58.1-439.12:1. Employer-provided commuting benefits tax credits.
A. For taxable years beginning on or after January 1, 2002, any employer shall be allowed a credit against the taxes imposed by §§ 58.1-320 and 58.1-400 in an amount equal to fifty percent of the cost of eligible commuting expenses provided by such employer for his employees, subject to the limitations in subsections B and C. For purposes of this section, eligible commuting expenses are those costs that cover travel between an employee's residence and place of employment by means of multiple-occupancy vehicle transportation and mass-transit transportation.
B. The maximum annual credit for commuting expenses shall not exceed the lesser of $240 per employee or the employer's tax liability for the tax year. Any unused credit shall not be refundable and shall not be carried over or back to a different tax year.
C. No employer shall be eligible to claim a credit under this section to the extent such employer has taken a deduction for such commuting expenses for federal income tax purposes.