[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 3692 Introduced in Senate (IS)]







110th CONGRESS
  2d Session
                                S. 3692

                  To rescind Treasury Notice 2008-83.


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                   IN THE SENATE OF THE UNITED STATES

                           November 19, 2008

  Mr. Sanders introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

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                                 A BILL


 
                  To rescind Treasury Notice 2008-83.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. RESCISSION OF TREASURY NOTICE 2008-83.

    Treasury Notice 2008-83 (suspending the rule in section 382 of the 
Internal Revenue Code of 1986 that disallows use of a net unrealized 
built-in loss for financial institutions) is considered null and void 
and of no effect. The Internal Revenue Code of 1986 shall be applied 
and administered as if Treasury Notice 2008-83 had never been issued.
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