Introduced:
Jan 13, 2025
Policy Area:
Taxation
Congress.gov:
Bill Statistics
3
Actions
11
Cosponsors
1
Summaries
1
Subjects
1
Text Versions
Yes
Full Text
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Latest Action
Jan 13, 2025
Referred to the House Committee on Ways and Means.
Summaries (1)
Introduced in House
- Jan 13, 2025
00
<p><strong>Travel Trailer and Camper Tax Parity Act</strong></p><p>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. </p><p>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.</p><p>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. </p>
Actions (3)
Referred to the House Committee on Ways and Means.
Type: IntroReferral
| Source: House floor actions
| Code: H11100
Jan 13, 2025
Introduced in House
Type: IntroReferral
| Source: Library of Congress
| Code: Intro-H
Jan 13, 2025
Introduced in House
Type: IntroReferral
| Source: Library of Congress
| Code: 1000
Jan 13, 2025
Subjects (1)
Taxation
(Policy Area)
Cosponsors (11)
(R-OH)
Mar 18, 2025
Mar 18, 2025
(R-FL)
Feb 24, 2025
Feb 24, 2025
(R-FL)
Feb 4, 2025
Feb 4, 2025
(R-WV)
Jan 31, 2025
Jan 31, 2025
(R-OH)
Jan 21, 2025
Jan 21, 2025
(R-IN)
Jan 21, 2025
Jan 21, 2025
(R-PA)
Jan 21, 2025
Jan 21, 2025
(R-IN)
Jan 16, 2025
Jan 16, 2025
(R-IA)
Jan 16, 2025
Jan 16, 2025
(R-NY)
Jan 16, 2025
Jan 16, 2025
(D-NV)
Jan 13, 2025
Jan 13, 2025
Full Bill Text
Length: 1,614 characters
Version: Introduced in House
Version Date: Jan 13, 2025
Last Updated: Nov 15, 2025 2:16 AM
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 332 Introduced in House
(IH) ]
<DOC>
119th CONGRESS
1st Session
H. R. 332
To amend the Internal Revenue Code of 1986 to provide that floor plan
financing includes the financing of certain trailers and campers.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 13, 2025
Mr. Yakym (for himself and Ms. Titus) introduced the following bill;
which was referred to the Committee on Ways and Means
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to provide that floor plan
financing includes the financing of certain trailers and campers.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
[From the U.S. Government Publishing Office]
[H.R. 332 Introduced in House
(IH) ]
<DOC>
119th CONGRESS
1st Session
H. R. 332
To amend the Internal Revenue Code of 1986 to provide that floor plan
financing includes the financing of certain trailers and campers.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 13, 2025
Mr. Yakym (for himself and Ms. Titus) introduced the following bill;
which was referred to the Committee on Ways and Means
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to provide that floor plan
financing includes the financing of certain trailers and campers.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1.
This Act may be cited as the ``Travel Trailer and Camper Tax Parity
Act''.
SEC. 2.
CAMPERS.
(a) In General.--
(a) In General.--
Section 163
(j)
(9)
(C) of the Internal Revenue Code
of 1986 is amended by adding at the end the following new flush
sentence:
``Such term shall also include any trailer or camper
which is designed to provide temporary living quarters
for recreational, camping, or seasonal use and is
designed to be towed by, or affixed to, a motor
vehicle.
(j)
(9)
(C) of the Internal Revenue Code
of 1986 is amended by adding at the end the following new flush
sentence:
``Such term shall also include any trailer or camper
which is designed to provide temporary living quarters
for recreational, camping, or seasonal use and is
designed to be towed by, or affixed to, a motor
vehicle.''.
(b) Effective Date.--The amendment made by this section shall apply
to taxable years beginning after December 31, 2024.
<all>