S. 4065 · 117th Congress
Opportunity Zones Transparency, Extension, and Improvement Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
BookerSponsor6 cosponsors · 3 D, 3 R
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Opportunity Zones Transparency, Extension, and Improvement Act
What it does: CRS summary · Introduced in Senate · Apr 7, 2022
Opportunity Zones Transparency, Extension, and Improvement Act
This bill revises rules and reinstates reporting requirements relating to qualified opportunity zones (economically distressed communities where new investments, under specified conditions, may be eligible for preferential tax treatment).
Specifically, the bill terminates the designation of zones that are disqualified due to median family income exceeding 130% of national median family income and permits states to identify and expand terminations of such zones.
The bill also reinstates reporting requirements for qualified opportunity zones and imposes penalties for noncompliance with such requirements, extends the opportunity zones temporary deferral period for qualifying capital gain through 2028, and establishes a State and Community Dynamism Fund to support public and private investment in qualified opportunity zones.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Opportunity Zones Transparency, Extension, and Improvement Act
Latest action (Dec 13, 2022): Committee on Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance, and Investment. Hearings held.
Policy area: Taxation · Origin: Senate · Introduced: Apr 7, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.