Government Affairs

Bill would offer smaller banks access to $30 billion fund to spur lending to small businesess, and includes extension of program allowing 50% write-off on newly purchased depreciable property.

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.

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.

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).

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.

After passing in the Assembly with the full support of the automotive hobbyist community, the California Senate Transportation Committee failed to approve legislation to increase the registration limit for exempted specially constructed vehicle registrations from 500 to 750 vehicles per year. The bill was defeated on a 3 to 5 vote.

As of January 1, 2011, it will be illegal to sell or install a wheel weight that contains lead or mercury in Illinois. The state joins several others that have enacted laws banning the manufacture, sale and use of lead wheel weights. California’s law went into effect on January 1, 2010. Maine, Vermont and Washington also ban the products while Iowa, Maryland, New York, Rhode Island and Wisconsin have considered a ban.

One week remains for diesel performance parts manufacturers to have these parts placed on the California Air Resources Board’s (CARB) “Parts in Progress List,” thereby providing a one-year period for obtaining emissions compliance for these components.

A bill introduced in the U.S. Senate to create a large, new wilderness reserve in central Idaho has been endorsed by the Obama administration. The legislation threatens to designate nearly 330,000 acres of land in central Idaho as wilderness, the most restrictive designation that can be placed on public lands. SEMA opposes the legislation as drafted since many off-highway vehicle (OHV) trails in the Sawtooth and Challis National Forests could be closed as a result of its passage.

On March 23, President Obama signed the “Patient Protection and Affordable Care Act” into law, completing a year of contentious debate and creating the largest government mandate in recent history. Given the sweeping nature of the legislation, it will take some time for the ramifications of this historic action to be fully understood. However, some facts are immediately known. [Read More]