Legis Daily

Travel Trailer and Camper Tax Parity Act

USA116th CongressHR-4349| House 
| Updated: 9/17/2019
Jackie Walorski

Jackie Walorski

Republican Representative

Indiana

Cosponsors (6)
Stephanie N. Murphy (Democratic)Terri A. Sewell (Democratic)Paul Cook (Republican)Dina Titus (Democratic)Susan W. Brooks (Republican)Bryan Steil (Republican)

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.
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Timeline
May 20, 2019

Latest Companion Bill Action

S 116-1543
Introduced in Senate
Sep 17, 2019
Introduced in House
Sep 17, 2019
Referred to the House Committee on Ways and Means.
  • May 20, 2019

    Latest Companion Bill Action

    S 116-1543
    Introduced in Senate


  • September 17, 2019
    Introduced in House


  • September 17, 2019
    Referred to the House Committee on Ways and Means.

Taxation

Related Bills

  • S 116-1543: Travel Trailer and Camper Tax Parity Act
Business investment and capitalIncome tax deductionsInterest, dividends, interest ratesMotor vehiclesOutdoor recreation

Travel Trailer and Camper Tax Parity Act

USA116th CongressHR-4349| House 
| Updated: 9/17/2019
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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
May 20, 2019

Latest Companion Bill Action

S 116-1543
Introduced in Senate
Sep 17, 2019
Introduced in House
Sep 17, 2019
Referred to the House Committee on Ways and Means.
  • May 20, 2019

    Latest Companion Bill Action

    S 116-1543
    Introduced in Senate


  • September 17, 2019
    Introduced in House


  • September 17, 2019
    Referred to the House Committee on Ways and Means.
Jackie Walorski

Jackie Walorski

Republican Representative

Indiana

Cosponsors (6)
Stephanie N. Murphy (Democratic)Terri A. Sewell (Democratic)Paul Cook (Republican)Dina Titus (Democratic)Susan W. Brooks (Republican)Bryan Steil (Republican)

Ways and Means Committee

Taxation

Related Bills

  • S 116-1543: Travel Trailer and Camper Tax Parity Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Business investment and capitalIncome tax deductionsInterest, dividends, interest ratesMotor vehiclesOutdoor recreation