The mayor says the legislation will lead to "chaos" and more ticket disputes.
The bill gives drivers an extra five minutes past the expired time on Muni-Meters and parking regulations known as "alternate side" rules.
The bill's sponsor says too many drivers are slapped with "gotcha tickets" just one or two minutes after the meter or posted time has expired.
In 2008, the city collected nearly $596 million in parking fines. The city is expected to collect $690 million this year.