To amend the Internal Revenue Code of 1986 to allow a 5 year carryback of certain net operating losses, and for other purposes.


Amends the Internal Revenue Code to: (1) allow a five-year carryback of net operating losses for taxable years ending in 2008 or 2009; and (2) suspend the 90% alternative minimum tax limitation on carrybacks and carryovers of net operating losses in such years.

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