PUBLIC LAW 102-486—OCT. 24, 1992 106 STAT. 3013 "(A) Transportation in a commuter highway vehicle if such transportation is in connection with travel between Uie employee s residence and place of employment. "(B) Ally transit pass. "(C) Qualified parking. "(2) LIMITATION ON EXCLUSION.— The amount of the firinge benefits which are provided by an employer to any employee and which may be excludedfi:t)mgross income under subsection (a)(5) shall not exceed— "(A) $60 per month in the case of the aggregate of the benefits described in subparagraphs (A) and (B) of paragraph (1), and (B) $155 per month in the case of qualified parking. "(3) CASH REIMBURSEMENTS. —For purposes of this subsection, the term 'quaUfied transportation fringe' includes a cash reimbursement by an employer to an employee for a benefit described in paragraph (1). The preceding sentence shall apply to a cash reimbursement for any transit pass only if a voucher or similar item which may be exchanged only for a transit pass is not readily available for direct distribution by the employer to the employee. "(4) BENEFIT NOT IN LIEU OF COMPENSATION. —Subsection (a)(5) shall not apply to any qualified transportation fringe unless such benefit is provided in addition to (and not in lieu oD any compensation otherwise payable to the employee. "(5) DEFINITIONS.—For piirposes of this subsection— "(A) TRANSIT PASS. — The term 'transit pass* means any pass, token, farecard, voucher, or similar item entitling a person to transportation (or transportation at a reduced price) if such transportation is— (i) on mass transit facilities (whether or not publicly owned), or (ii) provided by any person in the business of transporting persons for compensation or hire if such transportation is provided in a vehicle meeting the requirements of subparagraph (BXD- "(B) COMMUTER HIGHWAY VEHICLE.—The term 'commuter highway vehicle' means any highway vehicle— (i) the seating capacity of which is at least 6 adults (not including the driver), and "(ii) at least 80 percent of the mileage use of which can reasonably be expected to be— "(I) for purposes of transporting employees in connection with travel between their residences and their place of employment, and "(II) on trips during which the number of employees transported for such purposes is at least V2 of the adult seating capacity of such vehicle (not including the driver). "(C) QUALIFIED PARKING. — The term 'qualified parking* means parking provided to an employee on or near the business premises of the employer or on or near a location from which the employee commutes to work by transportation described in subparagraph (A), in a commuter highway vehicle, or by carpool. Such term shall not include any parking on or near property used by the employee for residential purposes.
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