SECTION 1. PURPOSE

.01 This revenue procedure provides: (1) 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 provided under section 1.61–21(e) of the Income Tax Regulations may be applicable is $15,300 for a passenger automobile and $16,000 for a truck or van; (2) 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 provided under section 1.61–21(d) of the regulations may be applicable is $20,300 for a passenger automobile and $21,000 for a truck or van.

on the use of proceeds of Qualified Midwestern Disaster Area Bonds, Qualified Hurricane Ike Disaster Area Bonds and Qualified Gulf Opportunity Zone Bonds issued under § 1400N(a) to finance “reimbursements” of original expenditures previously paid from other sources of funds after the date of the occurrence of the applicable disaster under the general reimbursement expenditure rules for tax-exempt bonds.