as the case may be, have been established or approved by a State or political subdivision thereof, by any agency or instrumentality of the United States, or by a public service or public utility commission or other similar body of any State or political subdivision thereof. (8) Carryforward of disallowed interest For carryforward of interest disallowed under paragraph (1), see subsection (o). (9) Floor plan financing interest defined For purposes of this subsection— (A) In general The term floor plan financing interest means interest paid or accrued on floor plan financing indebtedness. (B) Floor plan financing indebtedness The term floor plan financing indebtedness means indebtedness— (i) used to finance the acquisition of motor vehicles held for sale to retail customers, and (ii) secured by the inventory so acquired. (C) Motor vehicle The term motor vehicle means a motor vehicle that is any of the following: (i) An automobile. (ii) A truck. (iii) A recreational vehicle. (iv) A motorcycle. (v) A boat. (vi) Farm machinery or equipment. (vii) Construction machinery or equipment. . (b) Carryforward of disallowed business interest Section 163 , after amendment by section 4302(a) and before amendment by section 4302(b), is amended by inserting after subsection (n) the following new subsection: (o) Carryforward of disallowed business interest The amount of any business interest not allowed as a deduction for any taxable year by reason of subsection (j) shall be treated as business interest paid or accrued in the succeeding taxable year. Business interest paid or accrued in any taxable year (determined without regard to the preceding sentence) shall not be carried past the 5th taxable year following such taxable year, determined by treating business interest as allowed as a deduction on a first-in, first-out basis. . (c) Treatment of carryforward of disallowed business interest in certain corporate acquisitions (1) In general Section 381(c) is amended by inserting after paragraph (19) the following new paragraph: (20)