(a)
In addition to the modifications made by Section 17276, the deduction provided by Section 172 of the Internal Revenue Code, relating to net operating loss deduction, shall be modified as follows:(1)
Section 172(b)(1)(J) of the Internal Revenue Code, relating to certain losses attributable to federally declared disasters, shall not apply.(2)
Section 172(j) of the Internal Revenue Code, relating to rules relating to qualified disaster losses, shall not apply.(b)
This section shall be operative for taxable years beginning on or after January 1, 2011.
Source:
Section 17276.05, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=RTC§ionNum=17276.05..