Senate Bill 4105
117th Congress(2021-2022)
Supply Chain Disruptions Relief Act
Active
Passed Senate on Dec 22, 2022
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
4105
Congress
117
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
checkPassed on December 22, 2022
Status
Passed
Type
Unanimous Consent
Unanimous Consent
A senator may request unanimous consent on the floor to set aside a specified rule of procedure so as to expedite proceedings. If no Senator objects, the Senate permits the action, but if any one senator objects, the request is rejected. Unanimous consent requests with only immediate effects are routinely granted, but ones affecting the floor schedule, the conditions of considering a bill or other business, or the rights of other senators, are normally not offered, or a floor leader will object to it, until all senators concerned have had an opportunity to inform the leaders that they find it acceptable.
Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.
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.
Sort by most recent
12/23/2022
Held at the desk.
12/23/2022
Received in the House.
12/23/2022
Message on Senate action sent to the House.
12/22/2022
Passed Senate without amendment by Unanimous Consent. (consideration: CR S10102; text: CR S10102)
12/22/2022
Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.
12/22/2022
Senate Committee on Finance discharged by Unanimous Consent.
04/28/2022
Read twice and referred to the Committee on Finance.
04/28/2022
Introduced in Senate
Public Record
Record Updated
Nov 9, 2023 9:43:47 PM