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Bill117th CongressFiled Apr 28, 2022Taxation
S. 4105

Supply Chain Disruptions Relief Act

Bill journey · stage 1 of 5

Just introduced

Filed
Comm.
Floor
Both
Law

What it doesSummary passed senate (Dec 22, 2022)

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.

What just happenedDec 23, 2022

Held at the desk.

Who’s behind it

Sen. Brown, Sherrod [D-OH](D-OH)Sponsor
59 cosponsors23 D35 R1 I
Read on Congress.gov
59cosponsors1committees9actions1related bills6subjects
  1. Dec 23, 2022FloorH15000

    Held at the desk.

  2. Dec 23, 2022FloorH14000

    Received in the House.

  3. Dec 23, 2022Floor

    Message on Senate action sent to the House.

  4. Dec 22, 2022Floor

    Passed Senate without amendment by Unanimous Consent. (consideration: CR S10102; text: CR S10102)

  5. Dec 22, 2022Floor17000

    Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.

  6. Dec 22, 2022Discharge

    Senate Committee on Finance discharged by Unanimous Consent.

    Finance Committee
  7. Dec 22, 2022Committee14500

    Senate Committee on Finance discharged by Unanimous Consent.

    Finance Committee
  8. Apr 28, 2022IntroReferral

    Read twice and referred to the Committee on Finance.

    Finance Committee
  9. Apr 28, 2022IntroReferral10000

    Introduced in Senate

Passed SenateDec 22, 202255

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.

Introduced in SenateApr 28, 2022

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.

Supply Chain Disruptions Relief Act — Informed