S. 1543 · 116th Congress
Travel Trailer and Camper Tax Parity Act
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
ErnstSponsor
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.)
What it does: CRS summary · Introduced in Senate · May 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Travel Trailer and Camper Tax Parity Act
Latest action (May 20, 2019): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: May 20, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.