Senate bill S443-118

Finance Committee

Supply Chain Disruptions Relief Act

• Last activity on Feb 15, 2023

• Introduced Feb 15, 2023

• By Sen. Brown, Sherrod [D-OH]

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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.

Senate Actions

IntroReferral
Feb. 15 2023	Read twice and referred to the Committee on Finance.

Library of Congress Actions

IntroReferral
Feb. 15 2023	Introduced in Senate

Senate bill S443-118

Supply Chain Disruptions Relief Act

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