Legislative reenactment doctrine doesn’t permit 10-year carryback of specified liability losses (SLLs) not attributable to product liability losses (PLLs) for a taxpayer that waived its right to carry back its net operating losses (NOLs) under I.R.C. §172(b)(1)(C), the Chief Counsel’s Office advised. A U.S. corporation (T) is the parent of an affiliated group that files a consolidated federal tax return. In years 3 and 4, T incurred consolidated NOLs and elected to waive its 2-year NOL carryback under §172(b)(3) and Treas. Reg. §1.1502-21(b)(3)(i). In year 5, T determined that its years 3 and 4 NOLs ...