Establishes a parking cash-out program for employers in Massachusetts.
The bill establishes a parking cash-out program in Massachusetts, requiring employers with at least 10 employees to offer employees a choice of tax-exempt employer-paid transit or vanpool subsidies, taxable cash, or a combination of both, equal to the market value of the parking space. Employers must maintain evidence of the market rate cost of parking for at least four years. Employers with 10 to 99 employees must implement a daily or monthly parking cash-out program, while those with 100 or more employees must implement a daily program.
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