A bill to provide for a 5-year carryback of certain net operating losses and to suspend the 90 percent alternative minimum tax limit on certain net operating losses.

Amends the Internal Revenue Code to: (1) allow a five-year carryback of net operating losses for taxable years beginning or ending during 2007, 2008, or 2009; and (2) suspend the 90% alternative minimum tax limitation on carrybacks and carryovers of net operating losses in such years.