H.R. 332 · 119th Congress
Travel Trailer and Camper Tax Parity Act
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YakymSponsor11 cosponsors · 1 D, 10 R
D
Titus
JB
R
Baird
RF
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Feenstra
CT
R
Tenney
TB
R
Balderson
EH
R
Houchin
MK
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Kelly
CM
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Miller
WS
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Steube
VB
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Buchanan
MC
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Carey1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill expands the exclusion of interest on floor plan financing from the limit on the tax deduction for business interest expenses to include interest on floor plan financing of certain non-motorized, towable campers and trailers.
What it does: CRS summary · Introduced in House · Jan 13, 2025
Travel Trailer and Camper Tax Parity Act
This bill expands the exclusion of interest on floor plan financing from the limit on the tax deduction for business interest expenses to include interest on floor plan financing of certain non-motorized, towable campers and trailers.
Under current law, the tax deduction for business interest expenses is generally limited to 30% of adjusted taxable income. (Some exceptions apply.) However, under current law, interest on floor plan financing (financing used to acquire inventory for sale or lease) of motorized vehicles (e.g., self-propelled vehicles designed to transport people) is excluded from the limit on the tax deduction for business interest expenses.
Under the bill, the exclusion of interest on floor plan financing from the limit on the tax deduction for business interest expenses is expanded to include interest on floor plan financing of any camper or trailer 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 (Jan 13, 2025): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jan 13, 2025
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.