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To amend the Internal Revenue Code of 1986 to apply the floor plan financing interest rules to semi-trailers.
Summary
This bill amends the tax code to extend favorable tax treatment for floor plan financing interest to semi-trailers and truck trailers. Floor plan financing refers to loans used to purchase inventory or equipment, and the bill allows businesses to claim deductions for interest on such financing for semi-trailers, consistent with treatment of other business equipment. The change applies to taxable years beginning after the bill's enactment.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
4 cosponsors
Actions (2)
- Mar 16, 2026 Referred to the House Committee on Ways and Means. · house
- Mar 16, 2026 Introduced in House
Similar bills (6)
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Full text
IN THE HOUSE OF REPRESENTATIVES
March 16, 2026
Mr. Moore of Utah (for himself and Mrs. Torres of California) 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 apply the floor plan financing interest rules to semi-trailers.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Semi-Trailer Tax Parity Act”.
SEC. 2. APPLICATION OF FLOOR PLAN FINANCING INTEREST RULES TO SEMITRAILERS.
(a) In General.—Section 163(j)(9)(C) of the Internal Revenue Code of 1986 is amended by adding at the end the following: “Such term shall further include any truck trailer or semi-trailer chassis or truck trailer or semi-trailer bodies (within the meaning of subparagraphs (C) and (D) of section 4051(a)(1), but without regard to whether the acquisition is the first retail sale of such property) which are not described in section 4051(a)(3).”.
(b) Effective Date.—The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act. <all>
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