Bill 119 HR 332, also known as the Floor Plan Financing Act of 2021, aims to amend the Internal Revenue Code of 1986 to expand the definition of floor plan financing to include certain trailers and campers.
Floor ...
plan financing is a type of financing used by retailers to purchase inventory, particularly in the automotive and recreational vehicle industries. This bill seeks to provide relief to businesses that sell trailers and campers by allowing them to qualify for floor plan financing, which can help them manage their inventory and cash flow more effectively.
By including trailers and campers in the definition of floor plan financing, this bill aims to support businesses in the recreational vehicle industry and promote economic growth in this sector. It is important to note that this bill does not provide any additional tax breaks or incentives, but rather expands the eligibility criteria for floor plan financing.
Overall, Bill 119 HR 332 is a targeted piece of legislation that seeks to support businesses in the recreational vehicle industry by allowing them to access the same financing options as other retailers. It will be interesting to see how this bill progresses through Congress and what impact it may have on the industry if it is ultimately signed into law.