Revenue and Taxation Code § 24416.3

(a) Notwithstanding Sections 24416, 24416.1, 24416.4, and 24416.7, or Sections 24416.2, 24416.5, and 24416.6, as those sections read on November 30, 2014, and Section 172 of the Internal Revenue Code, relating to net operating loss deduction, no net operating loss deduction shall be allowed for any taxable year beginning on or after January 1, 2002, and before January 1, 2004.

(b) For any carryover of a net operating loss for which a deduction is denied by subdivision (a), the carryover period under Section 172 of the Internal Revenue Code, relating to net operating loss deduction, shall be extended as follows:

(1) By one year, for losses incurred in taxable years beginning on or after January 1, 2002, and before January 1, 2003.

(2) By two years, for losses incurred in taxable years beginning before January 1, 2002.