HR 2452
111th Congress
House
Taxation
Business investment and capital
Income tax deductions
Insurance industry and regulation
Life, casualty, property insurance
Net Operating Loss (NOL) Carryback Act
Introduced: May 15, 2009
Introduced by:
Neal, Richard E.
Democratic
· Massachusetts
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 15, 2009
Referred to the House Committee on Ways and Means.
May 15, 2009
Sponsor introductory remarks on measure. (CR E1180)
May 15, 2009
Introduced in House
Plain-English 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.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1