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New Law Limits Debit Card Swipe Fees

SEMA and 54 other trade associations asked Congress to limit the amount credit card companies can charge merchants when processing payments. Congress addressed some, but not all swipe fees when it enacted the new financial reform law.

Canada Approves SEMA-Requested Lead Fuel Exemption for Competition Vehicles

Environment Canada issued a SEMA-supported final rule to indefinitely extend an exemption allowing the use of leaded gasoline in competition motor vehicles. The exemption has been renewed several times since it was first established in 1996. SEMA had previously opposed efforts to permanently terminate the exemption and effectively ban racing vehicles using leaded fuel. The new rule recognizes the relationship between the Canadian and U.S. racing industries and adopts a consistent environmental approach to leaded fuel use.

FTC Answers Questions About the Use of Endorsements in Virtual Advertising

The Federal Trade Commission (FTC) has published answers to “frequently asked questions” (FAQs) to help businesses better understand the FTC’s “Guides Concerning the Use of Endorsements and Testimonials in Advertising.” The Guides were revised in October 2009 to clarify that they apply to all types of advertising, including via social media websites and blogs.

New Jersey Bill to Extend Emissions Inspection Waiver for Newer Cars Signed Into Law

SEMA-supported legislation to extend the emissions inspection exemption to vehicles five model years old or newer has been signed into law by New Jersey Governor Chris Christie. The new law acknowledges the relatively minimal environmental impact of the vehicles targeted for this exemption and that it is senseless to test newer vehicles, the results of which demonstrate no significant air quality benefits.

Celebrate Collector Car Appreciation Day on July 9!

This Friday, industry professionals and enthusiasts across the country will gather tocelebrate collector cars. The U.S. Senate declared July 9, 2010, as “Collector Car Appreciation Day” when it passed Senate Resolution 513(S. Res. 513) at the request of SEMA and the Automotive RestorationMarket Organization (ARMO) council.

New Government Website Identifies Health Insurance Plans in Your Area

Small-business owners and consumers shopping for health insurance have a new tool to learn more about the health care options in their area. The site, www.healthcare.gov, provides information on coverage options, health care providers and important dates for the implementation of the new health care law.

SBA Study Analyzes How Small Businesses Use Credit

The Small Business Administration (SBA) released a study that examines the types of credit used by small businesses, namely bank credits (loans or lines of credit) and trade credits (from suppliers). The study compares companies that use credit (leveraged) with those that do not (unleveraged).

California May Require Auto Service Repair Providers to Check Tire Pressure

The California Air Resources Board has issued a proposed rule that would require all automobile service providers to check tire pressures for every vehicle being maintained or repaired at their facility as of September 1, 2010. The regulation would apply to auto maintenance/repair providers but not to auto parts distributers/retailers, auto body/paint facilities, auto glass installers or wreckers/dismantlers. The deadline for commenting on the rule is July 6, 2010.  

SAN Kicks Off “Collector Car Appreciation Day” Celebrations in Star City With Star Power

The SEMA Action Network (SAN), the industry’s outreach to the hobbyist community and your customers, was on hand at Star City Motor Madness in Roanoke, Virginia, this past weekend to kick off celebrations for the first-ever Collector Car Appreciation Day.

Senate Includes Bonus Depreciation Extension in Small-Business Lending Legislation

The United States Senate included a provision to allow businesses to write-off 50% of the cost of newly purchased depreciable property as part of a larger bill (HR 5297) to provide banks with access to funds intended for small business loans. The SEMA-supported legislation has already been passed by the House and is now being debated by the U.S. Senate.
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