House bill HR700-118

Ways and Means Committee

Supply Chain Disruptions Relief Act

• Last activity on Feb 01, 2023

• Introduced Feb 01, 2023

• By Rep. Arrington, Jodey C. [R-TX-19]

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Supply Chain Disruptions Relief Act

This bill modifies the treatment of liquidations of new motor vehicle inventory as qualified LIFO (last in first out accounting method) inventory. It allows new motor vehicle dealers to elect to wait until the end of 2025 to replace their inventory for purposes of determining income attributable to the sale of such inventory during 2020 and 2021.

House floor actions Actions

IntroReferral
Feb. 01 2023	Referred to the House Committee on Ways and Means.

Library of Congress Actions

IntroReferral
Feb. 01 2023	Introduced in House Introduced in House

House bill HR700-118

Supply Chain Disruptions Relief Act

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