HR-6969 : Still Just a Bill

Travel Trailer and Camper Technical Correction Act

This bill amends the Internal Revenue Code, with respect to the limit on the deduction for business interest, to modify the definition of "floor plan financing indebtedness" to include the financing of certain trailers and campers.

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 which 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.

Action Timeline

Action DateTypeTextSource
2018-09-28IntroReferralReferred to the House Committee on Ways and Means.House floor actions
2018-09-28IntroReferralIntroduced in HouseLibrary of Congress

Policy Area :

Taxation
See Subjects
  • Business investment and capital
  • Income tax deductions
  • Interest, dividends, interest rates
  • Motor vehicles
  • Outdoor recreation

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