S 4105 United States Senate · 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 passed 3 of 5 stages cleared

Introduction

Apr 2022

Committee Review

Dec 2022

Senate Passage

Dec 2022

House Passage

President

Introduced Apr 28, 2022 Last action Dec 23, 2022

Floor votes

How they voted

This bill passed the Senate by voice vote (no roll call recorded).

Full legislative history

Actions timeline

Total actions

8

Key actions

3

Committee

2

Dec 22, 2022

Upper · Passed

Passed Senate without amendment by Unanimous Consent. (consideration: CR S10102; text: CR S10102)

upper

Dec 22, 2022

Upper · Passed

Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.

upper

Dec 22, 2022

Upper · Passed

Senate Committee on Finance discharged by Unanimous Consent.

upper

Apr 28, 2022

Committee

Read twice and referred to the Committee on Finance.

upper

Apr 28, 2022

Introduced

Introduced in Senate

upper

1 primary · 59 co-sponsors

Sponsors

Role

Legislator

Party

State

District

Angus S. King, Jr.

Benjamin L. Cardin

Catherine Cortez Masto

Charles E. Schumer

Chris Van Hollen