The Internal Revenue Service, in Revenue Procedure 2010-10, set the maximum vehicle values below which the ‘‘vehicle cents-per-mile’’ valuation rule and the ‘‘fleet-average’’ valuation rule may be employed in valuing the personal use of vehicles provided in 2010 by an employer to an employee.

The maximum value of employer provided vehicles first made available to employees for personal use in calendar year 2010 for which the vehicle cents-per-mile valuation rule (Treas. Reg. § 1.61-21(e)) may be applicable is $15,300 for a passenger automobile and $16,000 for a truck or van, IRS said.

The maximum value of employer provided vehicles first made available to employees for personal use in calendar year 2010 for which the fleet average valuation rule pertaining to 20 or more automobiles (Treas. Reg. § 1.61-21(d)) may be applicable is $20,300 for a passenger automobile and $21,000 for a truck or van.

According to the IRS, if an employer provides an employee with a vehicle that is available
to the employee for personal use, the value of the personal use must generally be included in the employee’s income and wages pursuant to Internal Revenue Code § 61.

In addition to using tax policy as a method of stimulating the economy, the Act allocates substantial funding for a number of public infrastructure projects. The following is a sample of such projects.

Highway Funding
Highway and bridge construction projects will receive $27.5 billion. After amounts are pulled for particular expenditures such as park roads, technology training and bonding assistance, the remaining funds will be allocated to states and territories using an existing formula from the 2008 appropriations law for the Department of Transportation. Priority will be given to projects that can award funds on or around June 15, 2009 with project completion expected by June 15, 2011.

The State Fiscal Stabilization Fund
The Act provides $53.6 billion for a State Fiscal Stabilization Fund, of which $39.5 billion shall be used to enhance school budgets. States are given the discretion to use a portion of this fund for school modernization projects for K – 16 facilities.

Transit and Rail
New construction, repair and modernization of transit and rail systems will be given $17.7 billion. Of this amount, $8.4 billion is available for mass transit projects, $1.3 billion is available for Amtrak capital projects and $8 billion is available for Intercity Passenger Rail Service.

Clean Water
The Act appropriates $4 billion for grants to states for wastewater treatment facilities. Additionally, $2 billion has been appropriated to states for drinking water infrastructure projects.

Environment Restoration
EPA Superfund Program projects are allocated $800 million, and $200 million for the EPA Leaking Underground Storage Tanks Program.