HR 7382 United States House · 117th Congress

Supply Chain Disruptions Relief Act

Summary

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.

Bill status in committee 1 of 4 stages cleared

Introduction

Apr 2022

Committee Review

Floor Vote

President

Introduced Apr 4, 2022 Last action Apr 4, 2022

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

2

Key actions

0

Committee

1

Apr 4, 2022

Committee

Referred to the House Committee on Ways and Means.

lower

Apr 4, 2022

Introduced

Introduced in House

lower

1 primary · 174 co-sponsors

Sponsors

Role

Legislator

Party

State

District

Daniel T. Kildee

A. Drew Ferguson IV

Alexander X. Mooney

Andrew R. Garbarino