Summary: S.1996 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for S.1996. Bill summaries are authored by CRS.

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Introduced in Senate (06/26/2019)

Net Operating Loss Clarification Act of 2019

This bill 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).