Ride Sharing Tax Incentives Act of 1981

Ride-Sharing Tax Incentives Act of 1981 - Title I: Individual Income Tax Credits for Purchase of Commuter Highway Vehicles - Amends the Internal Revenue Code to allow individual taxpayers an income tax credit equal to 15 percent of the cost of acquiring a qualified commuter highway vehicle. Specifies that such vehicle must seat at least eight adults (excluding the driver) and must be usable for at least 176 days during certain periods of time for transporting individuals from their homes to work.

Requires a minimum three-year use of such vehicle under penalty of recapture of credit amounts in the year of any cessation of such use or other disposition of the vehicle. Terminates the credit for vehicles acquired after 1985.

Title II: Payments for Public Transportation Excluded from Gross Income - Amends the Internal Revenue Code to exclude from the gross income of an employee amounts paid or reimbursed by the employer for the cost of commuting to and from work on public transportation. Excludes from gross income any services provided or amounts contributed by an employer in connection with a ride-sharing program that assists employees in locating and starting car pools.

Excludes from the gross income of the car pool driver any compensation received by the riders in the car pool.

Title III: Amendments Relating to Investment Tax Credit for Commuter Highway Vehicles - Amends the Internal Revenue Code to allow a 20 percent investment tax credit for commuter highway vehicles. Revises the use requirements for such vehicles for purposes of qualifying for the investment tax credit.

Title IV: Income Tax Credit for Employers Who Have Qualified Ride-Sharing Programs - Amends the Internal Revenue Code to allow employers a nonrefundable income tax credit for administrative expenses incurred in connection with the operation of a ride-sharing commuter program for employees. Determines the amount of such credit by multiplying the average number of such employees during the taxable year by a specified amount keyed to the percentage of participating employees. Terminates such credit after 1985.