H.R. 4013 · 111th Congress
To amend the Internal Revenue Code of 1986 to allow a 5-year carryback of operating losses, and for other…
Full title
To amend the Internal Revenue Code of 1986 to allow a 5-year carryback of operating losses, and for other purposes.
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
TiahrtSponsorNo cosponsors.
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.
What it does: CRS summary · Introduced in House · Nov 3, 2009
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to allow a 5-year carryback of operating losses, and for other purposes.
Latest action (Nov 3, 2009): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Nov 3, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.