By SEMA Washington, D.C., Staff

The U.S. House Ways and Means Committee passed SEMA-supported legislation to renew the Research and Development (R&D) tax credit, which expired at the end of 2014. The “American Research and Competitiveness Act of 2015” (HR 880) would increase the alternative simplified credit from 14% to 20%, make the credit permanent and provide small businesses with a credit against the Alternative Minimum Tax. The Senate has also introduced a bipartisan bill to expand the R&D credit and make it permanent. However, the Senate Finance Committee is expected to focus on comprehensive tax reform before considering individual credits.

In related action, the U.S. House of Representatives has already passed a bill to permanently allow small businesses to write off their capital investments, up to $500,000, in the year the purchases were made under Section 179 of the tax code. This legislation would remove small-business uncertainties about tax deductions when making long-term investments. 

For additional details, contact Eric Snyder at erics@sema.org.

By SEMA Washington, D.C., Staff

The U.S. House Ways and Means Committee passed SEMA-supported legislation to renew the Research and Development (R&D) tax credit, which expired at the end of 2014. The “American Research and Competitiveness Act of 2015” (HR 880) would increase the alternative simplified credit from 14% to 20%, make the credit permanent and provide small businesses with a credit against the Alternative Minimum Tax. The Senate has also introduced a bipartisan bill to expand the R&D credit and make it permanent. However, the Senate Finance Committee is expected to focus on comprehensive tax reform before considering individual credits.

In related action, the U.S. House of Representatives has already passed a bill to permanently allow small businesses to write off their capital investments, up to $500,000, in the year the purchases were made under Section 179 of the tax code. This legislation would remove small-business uncertainties about tax deductions when making long-term investments. 

For additional details, contact Eric Snyder at erics@sema.org.

By SEMA Washington, D.C., Staff

The U.S. House Ways and Means Committee passed SEMA-supported legislation to renew the Research and Development (R&D) tax credit, which expired at the end of 2014. The “American Research and Competitiveness Act of 2015” (HR 880) would increase the alternative simplified credit from 14% to 20%, make the credit permanent and provide small businesses with a credit against the Alternative Minimum Tax. The Senate has also introduced a bipartisan bill to expand the R&D credit and make it permanent. However, the Senate Finance Committee is expected to focus on comprehensive tax reform before considering individual credits.

In related action, the U.S. House of Representatives has already passed a bill to permanently allow small businesses to write off their capital investments, up to $500,000, in the year the purchases were made under Section 179 of the tax code. This legislation would remove small-business uncertainties about tax deductions when making long-term investments. 

For additional details, contact Eric Snyder at erics@sema.org.

The shooters at KGP Photography got a close-up look at the revised GMC Terrain, which is set for a facelift and debut, likely for the New York Auto Show this spring. Like its Chevy Equinox stablemate, the Terrain will get a very late-cycle update to carry it over until an all-new model arrives. An all-new Equinox and Terrain had been expected to be well on the way, with the arrival of the new Buick Envision CUV, but the strong sales of the current Equinox has enabled GM to stretch the timeline out a bit and wring as much profit as possible out of the existing architecture.

A revised grille and reworked headlights with modernized LED effects help make the Terrain seem more up to date in the fast-moving market segment.

Photo credit: KGP Photography

The shooters at KGP Photography got a close-up look at the revised GMC Terrain, which is set for a facelift and debut, likely for the New York Auto Show this spring. Like its Chevy Equinox stablemate, the Terrain will get a very late-cycle update to carry it over until an all-new model arrives. An all-new Equinox and Terrain had been expected to be well on the way, with the arrival of the new Buick Envision CUV, but the strong sales of the current Equinox has enabled GM to stretch the timeline out a bit and wring as much profit as possible out of the existing architecture.

A revised grille and reworked headlights with modernized LED effects help make the Terrain seem more up to date in the fast-moving market segment.

Photo credit: KGP Photography

The shooters at KGP Photography got a close-up look at the revised GMC Terrain, which is set for a facelift and debut, likely for the New York Auto Show this spring. Like its Chevy Equinox stablemate, the Terrain will get a very late-cycle update to carry it over until an all-new model arrives. An all-new Equinox and Terrain had been expected to be well on the way, with the arrival of the new Buick Envision CUV, but the strong sales of the current Equinox has enabled GM to stretch the timeline out a bit and wring as much profit as possible out of the existing architecture.

A revised grille and reworked headlights with modernized LED effects help make the Terrain seem more up to date in the fast-moving market segment.

Photo credit: KGP Photography

By SEMA Editors

	Ken Bolen, center, was the first recipient of the CLeo award for his ’69 Cadillac Deville restoration.

The first-annual CLeo Interior Restoration Trophy winner was Ken Bolen for his ’69 Cadillac Deville restoration, Malcolm Johnson, CEO of ColorBond Automotive Paint, announced. The award was presented January 15, at the Mobile Tech trade show in Orlando, Florida.

The CLeo crystal trophy is awarded to an individual who has shown excellence utilizing ColorBond paints to restore the interior of any vehicle, including trucks, musclecars, classics and antiques. The CLeo was established to honor Leo Kagan, who, in 1977, was responsible for moving the SEMA Show from Anaheim, California, to its current location in Las Vegas. At 98 years old, Kagan continues to work for ColorBond Automotive Paint.

The 20-ft.-long Cadillac Deville convertible was owned by Kay Stevens, a singer, entertainer and celebrity guest host, and was frequently seen in the company of the Rat Pack. Bolen purchased the vehicle from Stevens for $2,600 in 1994. The Caddy sat in a garage until 2013 and was restored last year. Bolen spent a total of $350 for ColorBond Paint and restored the leather seats, door panels, convertible boot and dash panel to the original color, Diamond White. Reskinning the leather interior would have cost $3,000–$5,000. 

The 2015 CLeo award will be presented at the SEMA Show in November. The winner will receive a $500 check and the opportunity to display their car at the 2015 SEMA Show.

For more photos and background information on Bolen's ’69 Cadillac Deville, visit ColorBond Automotive Paint's blog.

By SEMA Editors

	Ken Bolen, center, was the first recipient of the CLeo award for his ’69 Cadillac Deville restoration.

The first-annual CLeo Interior Restoration Trophy winner was Ken Bolen for his ’69 Cadillac Deville restoration, Malcolm Johnson, CEO of ColorBond Automotive Paint, announced. The award was presented January 15, at the Mobile Tech trade show in Orlando, Florida.

The CLeo crystal trophy is awarded to an individual who has shown excellence utilizing ColorBond paints to restore the interior of any vehicle, including trucks, musclecars, classics and antiques. The CLeo was established to honor Leo Kagan, who, in 1977, was responsible for moving the SEMA Show from Anaheim, California, to its current location in Las Vegas. At 98 years old, Kagan continues to work for ColorBond Automotive Paint.

The 20-ft.-long Cadillac Deville convertible was owned by Kay Stevens, a singer, entertainer and celebrity guest host, and was frequently seen in the company of the Rat Pack. Bolen purchased the vehicle from Stevens for $2,600 in 1994. The Caddy sat in a garage until 2013 and was restored last year. Bolen spent a total of $350 for ColorBond Paint and restored the leather seats, door panels, convertible boot and dash panel to the original color, Diamond White. Reskinning the leather interior would have cost $3,000–$5,000. 

The 2015 CLeo award will be presented at the SEMA Show in November. The winner will receive a $500 check and the opportunity to display their car at the 2015 SEMA Show.

For more photos and background information on Bolen's ’69 Cadillac Deville, visit ColorBond Automotive Paint's blog.