Here is a roundup of proposed or recently enacted legislative and regulatory developments affecting the specialty-equipment industry in key markets overseas. For more information on overseas developments, SEMA members are invited to contact SEMA Director of International and Government Relations Linda Spencer at lindas@sema.org.

First Quarter 2010 International Regulatory Update

Regardless of where you live, winter months involve preparing your car, truck or street rod for the upcoming spring and summer car seasons. However, these months are also a great time to prepare yourself with the same effort that you put into your vehicle. The following ideas from the Hot Rod Industry Alliance (HRIA) may help you stay involved with the hot rod industry and hobby.

Whether you are in the cold of the Northeast or the heat of the West Coast, there's plenty for a hot rodder to do during the winter. 

Regardless of where you live, winter months involve preparing your car, truck or street rod for the upcoming spring and summer car seasons. However, these months are also a great time to prepare yourself with the same effort that you put into your vehicle. The following ideas from the Hot Rod Industry Alliance (HRIA) may help you stay involved with the hot rod industry and hobby.

Whether you are in the cold of the Northeast or the heat of the West Coast, there's plenty for a hot rodder to do during the winter. 

For most members of the Automotive Restoration Market Organization (ARMO), business slows somewhat at the end of the year, allowing them time to catch up on various projects and plan for the upcoming New Year. This same concept is true for the ARMO Select Committee.

Having just completed its Long-Range Planning meeting in January, the council now looks forward to carrying out the various tasks scheduled for 2010.

For most members of the Automotive Restoration Market Organization (ARMO), business slows somewhat at the end of the year, allowing them time to catch up on various projects and plan for the upcoming New Year. This same concept is true for the ARMO Select Committee.

Having just completed its Long-Range Planning meeting in January, the council now looks forward to carrying out the various tasks scheduled for 2010.

Congress passed a SEMA-supported $16 billion “jobs bill” which is intended to expand the American workforce. Pending a final procedural vote by the Senate, the bill will be sent to President Obama to be signed into law. All businesses that hire a new employee before January 1, 2011, will be exempt from paying the 6.2% employer share of Social Security payroll taxes. The new worker must have been unemployed for at least 60 days and cannot replace another employee.

If the business retains the newly hired worker for one year, the employer is then entitled to a one-time $1,000 tax credit for each such worker. The legislation also extends the “Section 179” expensing provision, allowing small businesses to write-off up to $250,000 of capital expenditures made during 2010 rather than recovering the costs over time through depreciation.

The bill also increases the investment cap to $800,000 for 2010 rather than $500,000 indexed for inflation. President Obama intends to quickly sign the bill into law.

For more information, contact Stuart Gosswein.

Congress passed a SEMA-supported $16 billion “jobs bill” which is intended to expand the American workforce. Pending a final procedural vote by the Senate, the bill will be sent to President Obama to be signed into law. All businesses that hire a new employee before January 1, 2011, will be exempt from paying the 6.2% employer share of Social Security payroll taxes. The new worker must have been unemployed for at least 60 days and cannot replace another employee.

If the business retains the newly hired worker for one year, the employer is then entitled to a one-time $1,000 tax credit for each such worker. The legislation also extends the “Section 179” expensing provision, allowing small businesses to write-off up to $250,000 of capital expenditures made during 2010 rather than recovering the costs over time through depreciation.

The bill also increases the investment cap to $800,000 for 2010 rather than $500,000 indexed for inflation. President Obama intends to quickly sign the bill into law.

For more information, contact Stuart Gosswein.

Congress passed a SEMA-supported $16 billion “jobs bill” which is intended to expand the American workforce. Pending a final procedural vote by the Senate, the bill will be sent to President Obama to be signed into law. All businesses that hire a new employee before January 1, 2011, will be exempt from paying the 6.2% employer share of Social Security payroll taxes. The new worker must have been unemployed for at least 60 days and cannot replace another employee.

If the business retains the newly hired worker for one year, the employer is then entitled to a one-time $1,000 tax credit for each such worker. The legislation also extends the “Section 179” expensing provision, allowing small businesses to write-off up to $250,000 of capital expenditures made during 2010 rather than recovering the costs over time through depreciation.

The bill also increases the investment cap to $800,000 for 2010 rather than $500,000 indexed for inflation. President Obama intends to quickly sign the bill into law.

For more information, contact Stuart Gosswein.

Congress passed a SEMA-supported $16 billion “jobs bill” which is intended to expand the American workforce. Pending a final procedural vote by the Senate, the bill will be sent to President Obama to be signed into law. All businesses that hire a new employee before January 1, 2011, will be exempt from paying the 6.2% employer share of Social Security payroll taxes. The new worker must have been unemployed for at least 60 days and cannot replace another employee.

If the business retains the newly hired worker for one year, the employer is then entitled to a one-time $1,000 tax credit for each such worker. The legislation also extends the “Section 179” expensing provision, allowing small businesses to write-off up to $250,000 of capital expenditures made during 2010 rather than recovering the costs over time through depreciation.

The bill also increases the investment cap to $800,000 for 2010 rather than $500,000 indexed for inflation. President Obama intends to quickly sign the bill into law.

For more information, contact Stuart Gosswein.

Congress passed a SEMA-supported $16 billion “jobs bill” which is intended to expand the American workforce. Pending a final procedural vote by the Senate, the bill will be sent to President Obama to be signed into law. All businesses that hire a new employee before January 1, 2011, will be exempt from paying the 6.2% employer share of Social Security payroll taxes. The new worker must have been unemployed for at least 60 days and cannot replace another employee.

If the business retains the newly hired worker for one year, the employer is then entitled to a one-time $1,000 tax credit for each such worker. The legislation also extends the “Section 179” expensing provision, allowing small businesses to write-off up to $250,000 of capital expenditures made during 2010 rather than recovering the costs over time through depreciation.

The bill also increases the investment cap to $800,000 for 2010 rather than $500,000 indexed for inflation. President Obama intends to quickly sign the bill into law.

For more information, contact Stuart Gosswein.