US Congress Senate Bill 1835 (Prior Session Legislation)

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Sponsorship: Partisan Bill (Republican 1)
Status: Introduced on October 22 2009 - 25% progression, died in chamber
Action: 2009-10-22 - Read twice and referred to the Committee on Finance.
Text: Latest bill text (Introduced) [PDF]

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.

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

Sen. Sam Brownback [R-KS]

Date	Chamber	Action
2009-10-22		Read twice and referred to the Committee on Finance.

HB2452 (Related) 2009-05-15 - Referred to the House Committee on Ways and Means.
HB4013 (Same As) 2009-11-03 - Referred to the House Committee on Ways and Means.
SB823 (Related) 2009-04-02 - Read twice and referred to the Committee on Finance.
SB1937 (Same As) 2009-10-27 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/senate-bill/1835/all-info
Text	https://www.congress.gov/111/bills/s1835/BILLS-111s1835is.pdf