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S 823 111th Congress Senate Taxation Business investment and capital Income tax deductions Insurance industry and regulation Life, casualty, property insurance

Net Operating Loss (NOL) Carryback Act

Introduced: April 2, 2009 See on congress.gov
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This bill died when the 111th Congress ended
It never became law before the 111th Congress (2009–2010) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 2, 2009
Read twice and referred to the Committee on Finance.
Apr 2, 2009
Sponsor introductory remarks on measure. (CR S4385)
Apr 2, 2009
Introduced in Senate
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 Plain-English summary Congressional Research Service

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 April 2, 2009

Read twice and referred to the Committee on Finance.

 Related & companion bills 6
  • HR 4013 Related bill To amend the Internal Revenue Code of 1986 to allow a 5-year carryback of operating losses, and for other purposes.
  • S 156 Related bill Small Business Stimulus Act of 2009
  • S 350 Related bill American Recovery and Reinvestment Act of 2009
  • S 1835 Related bill A bill to amend the Internal Revenue Code of 1986 to allow 5-year carryback of operating losses, and for other purposes.
  • S 1937 Related bill A bill to amend the Internal Revenue Code of 1986 to allow a 5-year carryback of operating losses, and for other purpos…
  • HR 2452 Identical bill Net Operating Loss (NOL) Carryback Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 10
All 10 Democratic 5 Republican 5
D
Bennet, Michael F.
Colorado · Sep 25, 2009
 D
Gillibrand, Kirsten E.
New York · Jul 10, 2009
 D
Murray, Patty
Washington · Jun 17, 2009
 R
Cornyn, John
Texas · Jun 16, 2009
 R
Graham, Lindsey
South Carolina · Jun 9, 2009
 D
Shaheen, Jeanne
New Hampshire · Jun 4, 2009
 R
Risch, James E.
Idaho · Jun 3, 2009
 R
Crapo, Mike
Idaho · May 20, 2009
 R
Collins, Susan M.
Maine · May 4, 2009
 D
Cantwell, Maria
Washington · Apr 2, 2009
Cite this page click to expand
APA
U.S. Congress. (2026). S. 823: Net Operating Loss (NOL) Carryback Act. 111th Congress. Open America. https://openamerica.io/bill/111-S-823/
MLA
"S. 823: Net Operating Loss (NOL) Carryback Act." 111th Congress, 2026, Open America, https://openamerica.io/bill/111-S-823/.
Bluebook (legal)
S. 823, 111th Cong. (2026), https://openamerica.io/bill/111-S-823/.
Markdown link
[S. 823: Net Operating Loss (NOL) Carryback Act](https://openamerica.io/bill/111-S-823/)
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