To provide for the proper application under the Internal Revenue Code of 1986 of the limitations on built-in losses following an ownership change of a bank.

Summary

Limits the applicability of Treasury Notice 2008-83 (suspending restrictions on the offset of net operating losses and unrealized built-in losses against the taxable income of certain corporate entities that acquire or merge with other entities) to a period beginning on September 30, 2008, and ending on the earlier of the date of the first committee action on this Act or the date on which the Chairman of the House Committee on Ways and Means and the Chairman of the Senate Committee on Finance issue a joint statement indicating their intent to to terminate the application of such notice. Directs the Inspector General of the Department of the Treasury to conduct an investigation into the issuance of Treasury Notice 2008-83 and report to Congress on such investigation.

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Timeline

1. 20 November 2008

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 20 November 2008

   Introduced

   Introduced in House

   Source: IntroReferral

3. 20 November 2008

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 20 November 2008 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 20 November 2008

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 20 November 2008

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 20 November 2008

  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. Doggett, Lloyd [D-TX-37] · D · Sponsor
• Rep. McDermott, Jim [D-WA-7] · D · Sponsor
• Rep. Stark, Fortney Pete [D-CA-13] · D · Sponsor
• Rep. Pascrell, Bill, Jr. [D-NJ-9] · D · Sponsor
• Rep. Lewis, John [D-GA-5] · D · Sponsor
• Rep. Blumenauer, Earl [D-OR-3] · D · Cosponsor
• Rep. Slaughter, Louise McIntosh [D-NY-25] · D · Cosponsor
• Rep. Thompson, Mike [D-CA-4] · D · Cosponsor
• Rep. Sánchez, Linda T. [D-CA-38] · D · Cosponsor
• · hswm00 · Standing

Related records

• related to ← A bill to rescind Treasury Notice 2008-83.