Bill117th CongressFiled Apr 4, 2022Taxation
H.R. 7382
Supply Chain Disruptions Relief Act
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (Apr 4, 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 happenedApr 4, 2022
Referred to the House Committee on Ways and Means.
Who’s behind it
Rep. Kildee, Daniel T. [D-MI-5](D-MI)Sponsor
174 cosponsors78 D96 R
174cosponsors1committees3actions1related bills6subjects
- Introduced in HouseApr 4, 2022
- Apr 4, 2022IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Apr 4, 2022IntroReferralIntro-H
Introduced in House
- Apr 4, 2022IntroReferral1000
Introduced in House