Opportunity Zones Improvement, Transparency, and Extension Act

Summary

Opportunity Zones Improvement, Transparency, and Extension 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.

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Timeline

1. 7 April 2022

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 7 April 2022

   Introduced

   Introduced in House

   Source: IntroReferral

3. 7 April 2022

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 7 April 2022 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 7 April 2022

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 7 April 2022

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 7 April 2022

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Kind, Ron [D-WI-3] · D · Sponsor
• Rep. Kelly, Mike [R-PA-16] · R · Sponsor
• Rep. Kildee, Daniel T. [D-MI-5] · D · Sponsor
• Rep. Sewell, Terri A. [D-AL-7] · D · Sponsor
• Rep. Walorski, Jackie [R-IN-2] · R · Sponsor
• Rep. Brown, Anthony G. [D-MD-4] · D · Cosponsor
• Rep. Van Drew, Jefferson [R-NJ-2] · R · Cosponsor
• Rep. Miller, Carol D. [R-WV-1] · R · Cosponsor
• · hswm00 · Standing

Related records

• related to ← Opportunity Zones Transparency, Extension, and Improvement Act