S. 1835: A bill to amend the Internal Revenue Code of 1986 to allow 5-year carryback of operating losses, and for other purposes.
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S. 1835: A bill to amend the Internal Revenue Code of 1986 to allow 5-year carryback of operating losses, and for other purposes.
111th Congress · introduced 2009-10-22 · Taxation · Latest: Read twice and referred to the Committee on Finance.
federal
Follow this bill, step by step
- Where it came from: introduced 2009-10-22 · official record
- Who proposed it: Sen. Brownback, Sam [R-KS] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Read twice and referred to the Committee on Finance. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
A bill to amend the Internal Revenue Code of 1986 to allow 5-year carryback of operating losses, and for other purposes.
Plain summary
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.
Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.
What a vote does
A “Yea” vote
If it passes both chambers and is signed, it becomes law.
A “Nay” vote
If it is not passed, current law stays as it is.
PSI Sci description of the legislative step (not an opinion).
What does this mean? (plain words)
Official text
A bill to amend the Internal Revenue Code of 1986 to allow 5-year carryback of operating losses, and for other purposes.
Source: Congressional Research Service summary (Introduced in Senate)
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The strongest published arguments
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Sen. Brownback, Sam [R-KS] · 0 cosponsors
Cost estimate: No cost estimate published yet.
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (1)
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in Senate)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-111s1835.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/111/s>
Record fed-us-cong111-s1835 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111