Stabilization Act of 2008

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Answers to your questions about the Emergency Economic Stabilization Act of 2008:

Beginning in March 2009, the Emergency Economic Stabilization Act of 2008 will allow employers to create a tax benefit for bike commuters. Here are some specifics for the UA employee:

This new legislation does allow PTS to initiate a pre-tax payroll deduction benefit for Benefit Eligible Employees who rent a bike locker or bike cage from PTS. This means a savings of approximately 25% or more, depending on your tax bracket. The pre-tax bicycle commuter benefit is only possible if the individual does not currently have a bus pass or permit on pre-tax payroll deduction.

The University of Arizona is not able to give individuals the $20 per month payment for bike commuters. This was designed for private companies who get a corporate income tax benefit from this type of payment directly to individuals.

The new PTS program is being set up now.  More information will be available after April 1, 2009  through our Customer Relations Section at 626-PARK (7275).