To amend the Internal Revenue Code of 1986 to allow a 5-year carryback of operating losses, and for other purposes.

Summary

Amends the Internal Revenue Code to allow a five-year carryback of net operating losses, including the operating losses of life insurance companies, incurred in 2008 and 2009. Denies such extended loss carryover period to: (1) taxpayers in whom the federal government acquires an equity interest under the Emergency Economic Stabilization Act of 2008; (2) the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac); and (3) members of certain affiliated groups. Directs the Secretary of the Treasury to make transfers to the general fund to cover reductions in revenues resulting from this Act.

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Timeline

1. 3 November 2009

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 3 November 2009

   Introduced

   Introduced in House

   Source: IntroReferral

3. 3 November 2009

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 3 November 2009 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 3 November 2009

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 3 November 2009

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 3 November 2009

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Tiahrt, Todd [R-KS-4] · R · Sponsor
• · hswm00 · Standing

Related records

• related to → Net Operating Loss (NOL) Carryback Act
• related to ← Net Operating Loss (NOL) Carryback Act
• related to ← A bill to amend the Internal Revenue Code of 1986 to allow 5-year carryback of operating losses, and for other purposes.
• related to ← A bill to amend the Internal Revenue Code of 1986 to allow a 5-year carryback of operating losses, and for other purposes.