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house Bill H.R. 2452

Net Operating Loss (NOL) Carryback Act

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      House Committee on Ways and Means
    IntroducedMay 15th, 2009

Bill Details

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Title

Net Operating Loss (NOL) Carryback Act

Official Title

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

Summary

Net Operating Loss (NOL) Carryback Act - 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.

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