Bill > S1314

This bill amends the Internal Revenue Code to expand the definition of "floor plan financing" to include travel trailers and campers. Specifically, the bill adds language that defines floor plan financing to encompass any trailer or camper designed for temporary living quarters during recreational, camping, or seasonal use that can be towed by or attached to a motor vehicle. Floor plan financing is a type of inventory loan commonly used by dealerships to purchase and stock inventory, and this bill effectively extends existing tax treatment to travel trailers and campers, which were previously not explicitly covered. The amendment will take effect for taxable years beginning after December 31, 2024, meaning it will first apply to tax year 2025. By providing this tax parity, the bill aims to create more consistent financial treatment for dealers selling travel trailers and campers alongside other types of vehicles or recreational equipment.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/1314/all-info