H.R.7382: Supply Chain Disruptions Relief Act

About This Bill

Bill Sponsor

Bill Cosponsors

172 (77 Democrats, 95 Republicans)

Bill Version

Bill 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.

(Source: Library of Congress)

Bill Actions

Date Description
April 4, 2022
Referred to the House Committee on Ways and Means.
April 4, 2022

Introduced in the House by Dan Kildee (D-Mich.)

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