By SEMA Washington, D.C., Staff

The U.S. House of Representatives has approved a bill to permanently extend the research and development (R&D) credit. Several other bills to permanently extend tax credits that expired in 2013 are awaiting House consideration, including an extension of the $500,000 small-business expensing limit. The Senate Finance Committee has already approved a SEMA-supported bill extending most of the nearly 60 expired tax breaks for another two years. The Senate bill would also extend the 50% bonus depreciation for qualified property purchased before January 1, 2016.

The bill is now being scheduled for a vote on the Senate floor. At some point, the House and Senate bills will be reconciled and lawmakers will need to identify revenue offsets to pay for the extenders.

For more information, contact Stuart Gosswein at stuartg@sema.org.

By SEMA Washington, D.C., Staff

The U.S. House of Representatives has approved a bill to permanently extend the research and development (R&D) credit. Several other bills to permanently extend tax credits that expired in 2013 are awaiting House consideration, including an extension of the $500,000 small-business expensing limit. The Senate Finance Committee has already approved a SEMA-supported bill extending most of the nearly 60 expired tax breaks for another two years. The Senate bill would also extend the 50% bonus depreciation for qualified property purchased before January 1, 2016.

The bill is now being scheduled for a vote on the Senate floor. At some point, the House and Senate bills will be reconciled and lawmakers will need to identify revenue offsets to pay for the extenders.

For more information, contact Stuart Gosswein at stuartg@sema.org.

By SEMA Washington, D.C., Staff

The U.S. House of Representatives has approved a bill to permanently extend the research and development (R&D) credit. Several other bills to permanently extend tax credits that expired in 2013 are awaiting House consideration, including an extension of the $500,000 small-business expensing limit. The Senate Finance Committee has already approved a SEMA-supported bill extending most of the nearly 60 expired tax breaks for another two years. The Senate bill would also extend the 50% bonus depreciation for qualified property purchased before January 1, 2016.

The bill is now being scheduled for a vote on the Senate floor. At some point, the House and Senate bills will be reconciled and lawmakers will need to identify revenue offsets to pay for the extenders.

For more information, contact Stuart Gosswein at stuartg@sema.org.

By SEMA Washington, D.C., Staff

The Louisiana Senate has approved legislation to annually designate the Friday, Saturday and Sunday of the second weekend in July as "Louisiana Collector Car Appreciation" weekend.

Legislation to annually designate the Friday, Saturday and Sunday of the second weekend in July as "Louisiana Collector Car Appreciation" weekend was approved by the Louisiana Senate and now moves to Governor Bobby Jindal for his signature and enactment into law. The bill has already been approved by the House of Representatives.

Earlier this year, the SEMA Action Network (SAN) announced these dates to mark the fifth commemoration in what has become an annual event to raise awareness of the vital role automotive restoration and collection plays in American society. SAN is again working to secure a U.S. Congressional resolution to recognize the day’s significance.

For more information, visit the SEMA Action Network (SAN) website. For details, contact Steve McDonald at stevem@sema.org.

By SEMA Washington, D.C., Staff

The Louisiana Senate has approved legislation to annually designate the Friday, Saturday and Sunday of the second weekend in July as "Louisiana Collector Car Appreciation" weekend.

Legislation to annually designate the Friday, Saturday and Sunday of the second weekend in July as "Louisiana Collector Car Appreciation" weekend was approved by the Louisiana Senate and now moves to Governor Bobby Jindal for his signature and enactment into law. The bill has already been approved by the House of Representatives.

Earlier this year, the SEMA Action Network (SAN) announced these dates to mark the fifth commemoration in what has become an annual event to raise awareness of the vital role automotive restoration and collection plays in American society. SAN is again working to secure a U.S. Congressional resolution to recognize the day’s significance.

For more information, visit the SEMA Action Network (SAN) website. For details, contact Steve McDonald at stevem@sema.org.

By SEMA Washington, D.C., Staff

The Louisiana Senate has approved legislation to annually designate the Friday, Saturday and Sunday of the second weekend in July as "Louisiana Collector Car Appreciation" weekend.

Legislation to annually designate the Friday, Saturday and Sunday of the second weekend in July as "Louisiana Collector Car Appreciation" weekend was approved by the Louisiana Senate and now moves to Governor Bobby Jindal for his signature and enactment into law. The bill has already been approved by the House of Representatives.

Earlier this year, the SEMA Action Network (SAN) announced these dates to mark the fifth commemoration in what has become an annual event to raise awareness of the vital role automotive restoration and collection plays in American society. SAN is again working to secure a U.S. Congressional resolution to recognize the day’s significance.

For more information, visit the SEMA Action Network (SAN) website. For details, contact Steve McDonald at stevem@sema.org.

By SEMA Washington, D.C., Staff

The Louisiana Senate has approved legislation to annually designate the Friday, Saturday and Sunday of the second weekend in July as "Louisiana Collector Car Appreciation" weekend.

Legislation to annually designate the Friday, Saturday and Sunday of the second weekend in July as "Louisiana Collector Car Appreciation" weekend was approved by the Louisiana Senate and now moves to Governor Bobby Jindal for his signature and enactment into law. The bill has already been approved by the House of Representatives.

Earlier this year, the SEMA Action Network (SAN) announced these dates to mark the fifth commemoration in what has become an annual event to raise awareness of the vital role automotive restoration and collection plays in American society. SAN is again working to secure a U.S. Congressional resolution to recognize the day’s significance.

For more information, visit the SEMA Action Network (SAN) website. For details, contact Steve McDonald at stevem@sema.org.

By SEMA Washington, D.C., Staff

Colorado Governor John Hickenlooper signed into law legislation that originally repealed the six-year limitation for applying a salvage brand to a motor vehicle for which the cost of being repaired exceeded its value.

Legislation that originally repealed the six-year limitation for applying a salvage brand to a motor vehicle for which the cost of being repaired exceeded its value was signed into law by Governor John Hickenlooper. An amendment to the new law, which was developed by the Collector Car Council of Colorado, protects from the salvage brand all vehicles that qualify as collector’s items, horseless carriages or street rods at the time of damage. This amendment prevents a permanent “salvage” blemish on the vehicle’s title, which would have made it suspect even if the vehicle is expertly restored or modified.

For details, contact Steve McDonald at stevem@sema.org.