Bill > HR4349

Introduced Session

To amend the Internal Revenue Code of 1986 to provide that floor plan financing includes the financing of certain trailers and campers. 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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Jackie Walorski (R)*,  Susan Brooks (R),  Paul Cook (R),  Stephanie Murphy (D),  Terri Sewell (D),  Bryan Steil (R),  Dina Titus (D), 

Referred to the House Committee on Ways and Means. (on 09/17/2019)

Official Document