S 3489 · 95th Congress · Taxation
A bill to amend the Internal Revenue Code of 1954 to allow an additional carryback of 7 years for excessive net operating losses attributable to product liability.
Bill Progress
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Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Referred to Senate Committee on Finance.(1978-09-08)
Plain Language Summary
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Amends the Internal Revenue Code to permit a taxpayer who incurs product liability losses to carryback such losses as net operating business losses for an additional seven years beyond the three-year period presently allowed by law.…
Summarized by Claude AI · Non-partisan · For informational purposes only