# 119-hr-9383: Small Business and Consumer Credit Act of 2026

119-hr-9383, Small Business and Consumer Credit Act of 2026, is a 119th Congress bill sponsored by Rep. Carey, Mike [R-OH-15] (R-OH); status introduced; PRIA reads it as touching household money (as of 2026-07-24).

- Canonical: https://policyrisk.com/legislation/119-hr-9383
- As of: 2026-07-24
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-9383
- Congress: 119
- Title: Small Business and Consumer Credit Act of 2026
- Status: introduced
- Introduced: 2026-06-22
- Sponsor: Rep. Carey, Mike [R-OH-15] (R-OH)
- Cosponsors: 11
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-07-24

## Summary

**This bill would create a staggered net operating loss (NOL) system that lets certain banks elect year-specific carryback rules and a 20-year carryover.** It targets defined "specified financial institutions" and sets different NOL timing for losses beginning in 2027, 2028, and 2029 and after. - Banks and bank groups: A "specified financial institution" covers three categories of banks and bank members specified in the bill. Eligible lenders can opt in to the special NOL rules for their taxable year of loss. - Year-specific NOL timing: For losses in taxable years beginning in 2027 the NOL is treated as a carryover to each of the next 20 taxable years. For losses in 2028 the NOL can be carried back to the preceding year and carried forward for 20 years. For losses in 2029 and later the NOL can be carried back to the two preceding years and carried forward for 20 years. - Election and timing rules: Elections must follow rules the Secretary prescribes, be made by the tax return due date for the loss year, and are irrevocable for that taxable year. The changes include conforming cross-reference edits to section 172 and apply to taxable years beginning after December 31, 2026.

## Cosponsors (11)

- Rep. Moore, Gwen [D-WI-4] (D-WI), 2026-06-22T00:00:00.000Z
- Rep. Tenney, Claudia [R-NY-24] (R-NY), 2026-06-22T00:00:00.000Z
- Rep. Sewell, Terri A. [D-AL-7] (D-AL), 2026-06-22T00:00:00.000Z
- Rep. Moran, Nathaniel [R-TX-1] (R-TX), 2026-06-22T00:00:00.000Z
- Rep. DelBene, Suzan K. [D-WA-1] (D-WA), 2026-06-22T00:00:00.000Z
- Rep. Yakym, Rudy [R-IN-2] (R-IN), 2026-06-22T00:00:00.000Z
- Rep. Beyer, Donald S. [D-VA-8] (D-VA), 2026-06-22T00:00:00.000Z
- Rep. Miller, Max L. [R-OH-7] (R-OH), 2026-06-22T00:00:00.000Z
- Rep. Horsford, Steven [D-NV-4] (D-NV), 2026-06-22T00:00:00.000Z
- Rep. Van Duyne, Beth [R-TX-24] (R-TX), 2026-07-22T00:00:00.000Z
- Rep. Suozzi, Thomas R. [D-NY-3] (D-NY), 2026-07-22T00:00:00.000Z

## Provisions PRIA read

- New NOL rules for banks: benefit, medium. This bill would give certain banks and closely related financial firms a special net operating loss (NOL) timetable. It would apply to losses from tax years starting after Dec 31, 2026. For 2027 loss years the NOL would carry forward for 20 years. For 2028 loss years the NOL would carry back one ye…

## Related bills

- 119-hr-9877: Health Equity and Accountability Act of 2026
- 119-hr-33: To amend the Internal Revenue Code of 1986 to provide special rules for the taxation of certain residents of Taiwan with income from sources within the United…
- 119-hr-3514: Improving Seniors’ Timely Access to Care Act of 2025
- 119-hr-2725: Affordable Housing Credit Improvement Act of 2025
- 119-hr-2891: IRA Charitable Rollover Facilitation and Enhancement Act of 2025
- 119-hr-2102: Major Richard Star Act

## Sources
- [119-hr-9383 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/9383)

## Related
- [119-hr-9877: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-hr-9877)
- [119-hr-33: To amend the Internal Revenue Code of 1986 to provide special rules for the tax…](https://policyrisk.com/legislation/119-hr-33)
- [119-hr-3514: Improving Seniors’ Timely Access to Care Act of 2025](https://policyrisk.com/legislation/119-hr-3514)
- [119-hr-2725: Affordable Housing Credit Improvement Act of 2025](https://policyrisk.com/legislation/119-hr-2725)
- [119-hr-2891: IRA Charitable Rollover Facilitation and Enhancement Act of 2025](https://policyrisk.com/legislation/119-hr-2891)
- [119-hr-2102: Major Richard Star Act](https://policyrisk.com/legislation/119-hr-2102)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-9383 (as of 2026-07-24).