US Congress Senate Bill 1543 (Prior Session Legislation)

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

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.

Travel Trailer and Camper Tax Parity Act

Sen. Joni Ernst [R-IA]

Sen. Angus King [I-ME]

Sen. Doug Jones [D-AL]

Sen. Mike Braun [R-IN]

Date	Chamber	Action
2019-05-20	Senate	Read twice and referred to the Committee on Finance.

HB4349 (Related) 2019-09-17 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/1543/all-info
Text	https://www.congress.gov/116/bills/s1543/BILLS-116s1543is.pdf