The act replaces an existing income tax deduction for expenses incurred by employers when providing alternative transportation options to employees with a refundable income tax credit of 50% of such expenses for such employers, including local government employers, subject to the limitations that the maximum amount spent in any income tax year for which an employer may claim a credit is $250,000 and that the maximum amount spent in any income tax year for any one employee for which an employer may claim a credit is $2,000 dollars. For purposes of the act, alternative transportation options means free or partially subsidized, generally accepted transportation demand management strategies, including but not limited to ridesharing arrangements, provision of ridesharing vans or low-speed conveyances such as human-powered or electric bicycles, shared micromobility options such as bikesharing and electric scooter sharing programs, carsharing programs, and guaranteed ride home programs. The credit is allowed for income tax years beginning on or after January 1, 2023, but before January 1, 2025. $93,758 is appropriated from the general fund to the department of revenue for implementation of the act. (Note: This summary applies to this bill as enacted.)