US SB1543 | 2019-2020 | 116th Congress

Status

Spectrum: Bipartisan Bill
Status: Introduced on May 20 2019 - 25% progression
Action: 2019-05-20 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Travel Trailer and Camper Tax Parity Act This bill modifies the limit on the tax deduction for business interest to include the financing of certain trailers and campers in the definition of "floor plan financing indebtedness." (Interest on floor plan financing indebtedness is exempt from the limit.) Under current law, floor plan financing indebtedness is (1) used to finance the acquisition of motor vehicles held for sale or lease, and (2) secured by the acquired inventory. The bill specifies that, for the purpose of this definition, a motor vehicle includes any trailer or camper that is designed to (1) provide temporary living quarters for recreational, camping, or seasonal use; and (2) be towed by, or affixed to, a motor vehicle.

Tracking Information

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Title

Travel Trailer and Camper Tax Parity Act

Sponsors


History

DateChamberAction
2019-05-20SenateRead twice and referred to the Committee on Finance.

Subjects


US Congress State Sources


Bill Comments

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