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116TH CONGRESS
1ST SESSION H. R. 3587
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.
IN THE HOUSE OF REPRESENTATIVES
JUNE 27, 2019
Mr. SCHWEIKERT (for himself, Mr. BRENDAN F. BOYLE of Pennsylvania, and
Mrs. FLETCHER) introduced the following bill; which was referred to the
Committee on Ways and Means
A BILL
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.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. MODIFICATION OF EFFECTIVE DATE OF MODI-
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FICATIONS TO NET OPERATING LOSS DEDUC-
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TIONS.
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(a) IN GENERAL.—Section 13302(e)(2) of Public
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Law 115–97 is amended by striking ‘‘ending’’ and insert-
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ing ‘‘beginning’’.
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(b) EXTENSION OF DEADLINE FOR FILING APPLICA-
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TION FOR TENTATIVE CARRYBACK ADJUSTMENTS.—In
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the case of a net operating loss carryback of a net oper-
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ating loss arising in a taxable year beginning before Janu-
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ary 1, 2018, and ending after December 31, 2017, an ap-
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plication under section 6411(a) shall not fail to be treated
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as timely filed if filed not later than the date which is
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120 days after the date of the enactment of this Act.
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(c) EFFECTIVE DATE.—
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(1) IN
GENERAL.—Except as otherwise pro-
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vided in this subsection, the amendment made by
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this section shall take effect as if included in section
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13302 of Public Law 115–97.
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(2) ELECTIVE APPLICATION.—The amendment
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made by this section shall apply only if the taxpayer
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elects (at such time and in such manner as the Sec-
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retary, or the Secretary’s delegate, may provide) the
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application of this section.
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Æ
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