US HB3587 | 2019-2020 | 116th Congress
Status
Spectrum: Slight Partisan Bill (Republican 4-2)
Status: Introduced on June 27 2019 - 25% progression, died in committee
Action: 2019-06-27 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on June 27 2019 - 25% progression, died in committee
Action: 2019-06-27 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Amends the Tax Cuts and Jobs Act of 2017 (P.L. 115-97) to provide that the net operating carryforward and carryback modifications in that Act are effective for net operating losses arising in taxable years beginning after December 31, 2017 (instead of tax years ending after December 31, 2017). The bill also allows an extension of the deadline for filing an application for a tentative carryback adjustment for net operating losses arising before January 1, 2018, and ending after December 31, 2017.
Title
To amend the Internal Revenue Code of 1986 to modify the effective date for the modification to net operating loss deductions in Public Law 115-97.
Sponsors
| Rep. David Schweikert [R-AZ] | Rep. Brendan Boyle [D-PA] | Rep. Elizabeth Fletcher [D-TX] | Rep. Ann Wagner [R-MO] |
| Rep. Debbie Lesko [R-AZ] | Rep. Roger Williams [R-TX] |
History
| Date | Chamber | Action |
|---|---|---|
| 2019-06-27 | House | Referred to the House Committee on Ways and Means. |
| 2019-06-27 | House | Introduced in House |
Same As/Similar To
SB1996 (Related) 2019-06-26 - Read twice and referred to the Committee on Finance.
Subjects
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/house-bill/3587/all-info |
| Text | https://www.congress.gov/116/bills/hr3587/BILLS-116hr3587ih.pdf |
