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Policy 367: Pre-Tax Employee Parking Permit Benefit

Section: Personel Policies
Sub-Section: Benefits
Policy Number: 367
Subject: Pre-Tax Employee Parking Permit Benefit
Origin Date: July 1, 1999
Effective Date: July 1, 1999
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367.1 POLICY

The University will allow qualified University employees the election of purchasing annual parking permits on a pre-tax basis. This provision is in accordance with the Taxpayer Relief Act of 1997 passed by the U. S. Congress.

367.2 PROCEDURES

2.1 Employee Eligibility

Any budgeted employee eligible to purchase a faculty/staff parking permit is eligible to participate in the pre-tax program. Those who elect the pre-tax benefit must do so by checking the appropriate box on the parking permit application form.

2.2 Conditions

Employees who elect the pre-tax parking permit option must pay the annual fee by payroll deduction over a fixed number of months as specified by the University Parking and Transportation Office. The permit must be purchased by the date specified by Parking & Transportation Services.

Employees who elect the pre-tax parking permit option through payroll deduction irrevocably elect to have their taxable compensation reduced by the amount of the current charge for the permit type assigned.

367.3 RESPONSIBILITY

3.1 University Parking and Transportation Office

The Parking and Transportation Office is responsible for administering the eligibility and enrollment provisions of this policy.

3.2 Controller's Office

The Controller's Office is responsible for maintaining and reporting the pre-tax provisions of this policy as required.

3.3 Employee

Eligible employees are responsible for making the pre-tax election at enrollment time.