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A bill to amend the Internal Revenue Code of 1986 to provide that floor plan financing includes the financing of certain trailers and campers.

USA115th CongressS-3600| Senate 
| Updated: 10/11/2018
Joe Donnelly

Joe Donnelly

Democratic Senator

Indiana

Cosponsors (1)
Joni Ernst (Republican)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Travel Trailer and Camper Technical Correction Act This bill amends the Internal Revenue Code, with respect to the limit on the deduction for business interest, to modify the definition of "floor plan financing indebtedness" to include the financing of certain trailers and campers. 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 which 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
Sep 28, 2018

Latest Companion Bill Action

HR 115-6969
Introduced in House
Oct 11, 2018
Introduced in Senate
Oct 11, 2018
Read twice and referred to the Committee on Finance.
  • September 28, 2018

    Latest Companion Bill Action

    HR 115-6969
    Introduced in House


  • October 11, 2018
    Introduced in Senate


  • October 11, 2018
    Read twice and referred to the Committee on Finance.

Taxation

Related Bills

  • HR 115-6969: To amend the Internal Revenue Code of 1986 to provide that floor plan financing includes the financing of certain trailers and campers.
  • HR 115-88: Shiloh National Military Park Boundary Adjustment and Parker's Crossroads Battlefield Designation Act
Business investment and capitalIncome tax deductionsInterest, dividends, interest ratesMotor vehiclesOutdoor recreation

A bill to amend the Internal Revenue Code of 1986 to provide that floor plan financing includes the financing of certain trailers and campers.

USA115th CongressS-3600| Senate 
| Updated: 10/11/2018
Travel Trailer and Camper Technical Correction Act This bill amends the Internal Revenue Code, with respect to the limit on the deduction for business interest, to modify the definition of "floor plan financing indebtedness" to include the financing of certain trailers and campers. 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 which 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
Sep 28, 2018

Latest Companion Bill Action

HR 115-6969
Introduced in House
Oct 11, 2018
Introduced in Senate
Oct 11, 2018
Read twice and referred to the Committee on Finance.
  • September 28, 2018

    Latest Companion Bill Action

    HR 115-6969
    Introduced in House


  • October 11, 2018
    Introduced in Senate


  • October 11, 2018
    Read twice and referred to the Committee on Finance.
Joe Donnelly

Joe Donnelly

Democratic Senator

Indiana

Cosponsors (1)
Joni Ernst (Republican)

Finance Committee

Taxation

Related Bills

  • HR 115-6969: To amend the Internal Revenue Code of 1986 to provide that floor plan financing includes the financing of certain trailers and campers.
  • HR 115-88: Shiloh National Military Park Boundary Adjustment and Parker's Crossroads Battlefield Designation Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Business investment and capitalIncome tax deductionsInterest, dividends, interest ratesMotor vehiclesOutdoor recreation