US SB2023

Reinstates the tax exclusion for qualified bicycle commuting benefits that was suspended under prior law by repealing Section 132(f)(8) of the Internal Revenue Code

Expands eligible "qualified commuting property" to include traditional bicycles, electric bicycles (with motors under 750 watts), 2- or 3-wheel scooters, electric scooters (max 20 mph, under 100 pounds), and bikeshare rentals

Allows employers to provide tax-free reimbursements for purchase, lease, rental, improvement, repair, or storage of qualifying commuting property, or to directly provide such benefits to employees

Sets monthly benefit limit at 30% of the qualified parking benefit amount for bicycle commuting benefits

Applies to taxable years beginning after December 31, 2024