Supply Chain Disruptions Relief Act

United States118th CongressS-443Senate
Updated: Feb 15, 2023

Summary

Supply Chain Disruptions Relief Act This bill modifies the treatment of liquidations of new motor vehicle inventory as qualified LIFO (last in first out accounting method) inventory. It allows new motor vehicle dealers to elect to wait until the end of 2025 to replace their inventory for purposes of determining income attributable to the sale of such inventory during 2020 and 2021.

Bill texts

Available versions
Introduced (Senate)View official text

1 version available

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Timeline

Latest companion bill action

HR-700: Supply Chain Disruptions Relief Act

Referred to the House Committee on Ways and Means.

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Finance.

    Senate

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