To amend the Internal Revenue Code of 1986 to provide special rules with respect to the net operating losses of certain financial institutions.
Bill Summary
Amends tax law to create special rules for how certain financial institutions can use their business losses to reduce their tax bills. Requires the Internal Revenue Service to apply these new rules when calculating taxes owed by these institutions.
Sponsored By
Bill Journey
- Jun 22, 2026
- Jun 22, 2026You Are Here
The committee will review the bill, debate amendments, and vote on whether to advance it to the full chamber.
- TBD
The full chamber debates the bill, may amend it, and votes on whether to pass it.
- TBD
If passed by the first chamber, the other chamber considers, may amend, and votes on the bill.
- TBD
If passed by both chambers, the bill goes to the President to sign into law or veto.
Why It Matters
This bill affects certain financial institutions, potentially reducing their tax liability by allowing them to carry over business losses to future years. It may also impact the US Treasury, as these institutions could owe less in taxes.
Impact Areas
Support & Opposition
- Republican1
Documents
1
Full text opens on congress.gov, the official source.
Bill Details
Summary and impact analysis written by Judy (KnowGov's enrichment AI). Bill metadata, status, sponsor, and any floor votes from Prism. Sections marked “Sample” are placeholders not yet connected to live data.