H.R. 332: Travel Trailer and Camper Tax Parity Act
Sponsor
Rudy Yakym
Republican · IN-2
Bill Progress
Latest Action · Jan 13, 2025
Referred to the House Committee on Ways and Means.
Your RV loan should get the same tax break as your mortgage
Why it matters
The clearest winners are travel trailer and camper dealers, along with manufacturers and lenders tied to the RV supply chain, because floor plan financing treatment can improve the tax treatment of the interest expense tied to carrying inventory. Consumers could see some indirect benefit if dealers have more room to stock units or avoid passing along financing costs, but this is not a direct tax cut for buyers. The tradeoff is straightforward: the federal government gives up some revenue to deliver a niche industry tax fix, and critics will see it as another sector-specific preference rather than broad tax reform.
What Congress Is Saying
H.R. 332 hasn't been debated on the floor yet.
This section updates when a legislator speaks about it on the floor or in committee.
HR332 Legislative Journey
House: Committee Action
Jan 13, 2025
Referred to the House Committee on Ways and Means.
About the Sponsor
Rudy Yakym
Republican, Indiana's 2nd congressional district · 4 years in Congress
Committees: Transportation and Infrastructure, Ways and Means
View full profile →
Cosponsors (11)
This bill has 11 cosponsors: 1 Democrat, 10 Republicans. Cosponsors represent 8 states: Florida, Iowa, Indiana, and 5 more.
Committee Sponsors
Ways and Means Committee
7 of 45 committee members cosponsored
19 Republicans across this committee haven't cosponsored yet. Mobilize their constituents
H.R. 332 Quick Facts
- Committee
- Ways and Means
- Chamber
- House
- Policy
- Taxation
- Introduced
- Jan 13, 2025
Referred to the House Committee on Ways and Means.
Jan 13, 2025
Official Sources
Official bill page with full text, cosponsors, actions, and committee referrals for the Travel Trailer and Camper Tax Parity Act.
Identical Senate companion bill introduced by the Senate Finance Committee, giving the Travel Trailer and Camper Tax Parity Act a dual-chamber path.
The Internal Revenue Code section this bill amends. Subsection (j)(9)(C) defines floor plan financing indebtedness, which HR332 expands to include travel trailers and campers.
Comprehensive IRS FAQ on business interest expense limitation with detailed treatment of floor plan financing definitions and motor vehicle classifications.
IRS announcement covering recent legislative changes to section 163(j), including the expanded floor plan financing definition that now covers trailers and campers.
Official instructions for the form dealers use to calculate their business interest expense deduction, including Line 4 for floor plan financing interest expense.
The committee to which HR332 was referred. As the chief tax-writing committee in the House, Ways and Means has jurisdiction over all Internal Revenue Code amendments.
H.R. 332 Common Questions
When does the Travel Trailer and Camper Tax Parity Act take effect?
The tax change applies to taxable years beginning after December 31, 2024, under the Travel Trailer and Camper Tax Parity Act (Section 2).
Does HR332 change floor plan financing rules for travel trailers and campers?
Yes. According to HR332 Section 2, the bill amends Internal Revenue Code section 163(j)(9)(C) to include financing of certain trailers and campers as floor plan financing.
Can travel trailer financing count as floor plan financing under federal tax law?
Yes, under the Travel Trailer and Camper Tax Parity Act (Section 2), financing for certain trailers can be treated as floor plan financing by amending IRC 163(j)(9)(C).
Can camper financing be treated as floor plan financing under HR332?
Yes. Under HR332 Section 2, financing of certain campers is added to the floor plan financing rules in Internal Revenue Code section 163(j)(9)(C).
Which part of the tax code does the Travel Trailer and Camper Tax Parity Act amend?
The bill amends section 163(j)(9)(C) of the Internal Revenue Code of 1986, according to HR332 Section 2.
What are the tax law changes for trailer and camper dealers in HR332?
HR332 Section 2 expands the definition of floor plan financing to cover financing of certain trailers and campers under IRC 163(j)(9)(C).
Does the Travel Trailer and Camper Tax Parity Act apply before 2025 tax years?
No. Under the Travel Trailer and Camper Tax Parity Act (Section 2), the amendment applies only to taxable years beginning after December 31, 2024.
Is floor plan financing being expanded to certain trailers under HR332?
Yes. According to HR332 Section 2, the bill adds financing of certain trailers to the federal tax definition of floor plan financing.
Is floor plan financing being expanded to certain campers under HR332?
Yes. HR332 Section 2 extends floor plan financing treatment to financing of certain campers through an amendment to IRC 163(j)(9)(C).
Does HR332 add a new sentence to IRC 163(j)(9)(C)?
Yes. Under the Travel Trailer and Camper Tax Parity Act (Section 2), a new flush sentence is added to IRC 163(j)(9)(C) to include certain trailers and campers.
Based on H.R. 332 bill text
H.R. 332 Bill Text
“To amend the Internal Revenue Code of 1986 to provide that floor plan financing includes the financing of certain trailers and campers.”
Source: U.S. Government Publishing Office
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