S. 2916 (111th): A bill to provide that Internal Revenue Service Notice 2010-2 shall have no force and effect and to amend the Internal Revenue Code of 1986 to restrict the authority of the Secretary of the Treasury to prescribe regulations under section 382 of such Code.

Dec 18, 2009 (111th Congress, 2009–2010)
Died (Referred to Committee)
Jim Bunning
Senator from Kentucky
Read Text »
Last Updated
Dec 18, 2009
2 pages

This bill was introduced on December 18, 2009, in a previous session of Congress, but was not enacted.

Introduced Dec 18, 2009
Referred to Committee Dec 18, 2009

No summaries available.


Senate Finance

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Primary Source

THOMAS.gov (The Library of Congress)

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S. stands for Senate bill.

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

Nullifies Internal Revenue Service Notice 2010-2 (guidance regarding the application of section 382 of the Internal Revenue Code to corporations whose instruments are acquired and disposed of by the Department of Treasury pursuant to the Emergency Economic Stabilization Act of 2008).
Amends the Internal Revenue Code to prohibit the Secretary of the Treasury from prescribing any regulation after December 18, 2009, that provides an exemption or special rule under such section (provisions limiting net operating loss carryforwards and certain built-in losses following a change in corporate ownership) that is restricted to the disposition of corporate instruments acquired by the Secretary, unless Congress specifically authorizes the exemption or special rule.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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