Michael Noonan
Question:248 Mr. Noonan asked the Minister for Finance the take up for his proposals to allow tax relief for park and ride facilities; and if he will make a statement on the matter. [23299/00]
Vol. 524 No. 5
248 Mr. Noonan asked the Minister for Finance the take up for his proposals to allow tax relief for park and ride facilities; and if he will make a statement on the matter. [23299/00]
In the Finance Act 1999, I introduced accelerated capital allowances of up to 100% for capital expenditure on the construction or refurbishment of park and ride developments in or near designated urban areas which provide parking facilities for commuters using public transport. Relief is also available for expenditure on the construction or refurbishment of related residential developments which are located at park and ride facilities. Guidelines on the operation of the scheme were issued by my colleague, Deputy Noel Dempsey, Minister for Environment and Local Government in August 1999. The guidelines set out various criteria which a park and ride development and residential developments which are located at park and ride facilities must meet in order to qualify under the scheme. The scheme will operate for a three year period from 1 July 1999.