Bill > H2154

This bill establishes a comprehensive parking cash-out program requiring employers with 10 or more employees to offer employees a financial alternative to workplace parking benefits. Specifically, employers must provide employees the option to receive a cash benefit equivalent to the market rate cost of parking if they choose not to use a parking space, with different requirements based on company size: businesses with 10-99 employees can offer either daily or monthly cash-out programs, while companies with 100 or more employees must implement a daily cash-out program. The bill defines key terms like "market rate cost of parking" as the price an unaffiliated individual would pay for parking, and mandates that employers maintain documentation of parking rates. Employers must inform employees in writing about their parking cash-out options and report biennially to the Department of Transportation about program implementation. The Department of Revenue will annually adjust parking rates based on the Consumer Price Index and can impose fines for non-compliance. The legislation aims to provide financial incentives for employees to use alternative transportation methods, potentially reducing parking demand and associated environmental impacts. Municipalities may also grant parking requirement reductions for employers implementing these programs.

Labor and Employment

https://malegislature.gov/Bills/194/H2154