Legis Daily

Travel Trailer and Camper Tax Parity Act

USA116th CongressS-1543| Senate 
| Updated: 5/20/2019
Joni Ernst

Joni Ernst

Republican Senator

Iowa

Cosponsors (3)
Mike Braun (Republican)Angus S. King (Independent)Doug Jones (Democratic)

Finance 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
Introduced in Senate
May 20, 2019
Read twice and referred to the Committee on Finance.
Sep 17, 2019

Latest Companion Bill Action

HR 116-4349
Introduced in House
  • May 20, 2019
    Introduced in Senate


  • May 20, 2019
    Read twice and referred to the Committee on Finance.


  • September 17, 2019

    Latest Companion Bill Action

    HR 116-4349
    Introduced in House

Taxation

Related Bills

  • HR 116-4349: 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 CongressS-1543| Senate 
| Updated: 5/20/2019
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
Introduced in Senate
May 20, 2019
Read twice and referred to the Committee on Finance.
Sep 17, 2019

Latest Companion Bill Action

HR 116-4349
Introduced in House
  • May 20, 2019
    Introduced in Senate


  • May 20, 2019
    Read twice and referred to the Committee on Finance.


  • September 17, 2019

    Latest Companion Bill Action

    HR 116-4349
    Introduced in House
Joni Ernst

Joni Ernst

Republican Senator

Iowa

Cosponsors (3)
Mike Braun (Republican)Angus S. King (Independent)Doug Jones (Democratic)

Finance Committee

Taxation

Related Bills

  • HR 116-4349: 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