A bill to amend the Internal Revenue Code of 1986 to provide for the treatment of certain motor vehicle dealer transitional assistance.

This bill would provide tax relief to car dealership owners who lost their businesses due to the phase-out of the Oldsmobile brand by General Motors. It specifies that any financial assistance or settlement payments received by these dealers from the manufacturer should be treated as a gain from an involuntary conversion of property for tax purposes. For affected business owners, this change would allow them to defer paying taxes on that compensation if they reinvest the money into a similar business, helping to ease the financial burden caused by the sudden termination of their franchise agreements.