PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S13462)
Congressional Research Service
Version 00 · Introduced in Senate · Dec 18, 2009
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.
People & committees
Sen. Bunning, Jim [R-KY] · R–KY
Legislative record
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Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S13462)
Introduced in Senate
Primary sources
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Source last updated: Jan 14, 2025. Consult Congress.gov for the current record.
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Analyze S.2916 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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