Modification of limitation on business interest

(a) In general Section 163(j)(8)(A)(v) is amended by striking beginning before January 1, 2022 and inserting beginning after December 31, 2024 and before January 1, 2030. (b) Floor plan financing applicable to certain trailers and campers Section 163(j)(9)(C) is amended by adding at the end the following new flush sentence: Such term shall also include any trailer or camper which is designed to provide temporary living quarters for recreational, camping, or seasonal use and is designed to be towed by, or affixed to, a motor vehicle.. (c) Effective date and special rule (1) In general The amendments made by this section shall apply to taxable years beginning after December 31, 2024. (2) Special rule for short taxable years The Secretary of the Treasury may prescribe such rules as are necessary or appropriate to provide for the application of the amendments made by this section in the case of any taxable year of less than 12 months that begins after December 31, 2024, and ends before the date of the enactment of this Act.

(a) In general Section 163(j)(8)(A)(v) is amended by striking beginning before January 1, 2022 and inserting beginning after December 31, 2024 and before January 1, 2030. (b) Floor plan financing applicable to certain trailers and campers Section 163(j)(9)(C) is amended by adding at the end the following new flush sentence: Such term shall also include any trailer or camper which is designed to provide temporary living quarters for recreational, camping, or seasonal use and is designed to be towed by, or affixed to, a motor vehicle.. (c) Effective date and special rule (1) In general The amendments made by this section shall apply to taxable years beginning after December 31, 2024. (2) Special rule for short taxable years The Secretary of the Treasury may prescribe such rules as are necessary or appropriate to provide for the application of the amendments made by this section in the case of any taxable year of less than 12 months that begins after December 31, 2024, and ends before the date of the enactment of this Act.