S. 2916 · 111th Congress
A bill to provide that Internal Revenue Service Notice 2010-2 shall have no force and effect and to amend the…
Full title
A bill to provide that Internal Revenue Service Notice 2010-2 shall have no force and effect and to amend the Internal Revenue Code of 1986 to restrict the authority of the Secretary of the Treasury to prescribe regulations under section 382 of such Code.
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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
BunningSponsorNo cosponsors.
Nullifies Internal Revenue Service Notice 2010-2 (guidance regarding the application of section 382 of the Internal Revenue Code to corporations whose instruments are acquired and disposed of by the Department of Treasury pursuant to the Emergency Economic Stabilization Act of 2008).
What it does: CRS summary · Introduced in Senate · Dec 18, 2009
Nullifies Internal Revenue Service Notice 2010-2 (guidance regarding the application of section 382 of the Internal Revenue Code to corporations whose instruments are acquired and disposed of by the Department of Treasury pursuant to the Emergency Economic Stabilization Act of 2008).
Amends the Internal Revenue Code to prohibit the Secretary of the Treasury from prescribing any regulation after December 18, 2009, that provides an exemption or special rule under such section (provisions limiting net operating loss carryforwards and certain built-in losses following a change in corporate ownership) that is restricted to the disposition of corporate instruments acquired by the Secretary, unless Congress specifically authorizes the exemption or special rule.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to provide that Internal Revenue Service Notice 2010-2 shall have no force and effect and to amend the Internal Revenue Code of 1986 to restrict the authority of the Secretary of the Treasury to prescribe regulations under section 382 of such Code.
Latest action (Dec 18, 2009): Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S13462)
Policy area: Taxation · Origin: Senate · Introduced: Dec 18, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.