IMPACT Act

Summary

Improving and Reinstating the Monitoring, Prevention, Accountability, Certification, and Transparency Provisions of Opportunity Zones or the IMPACT Act This bill provides statutory authority for annual reporting requirements by qualified opportunity funds and taxpayers investing in such funds and sets forth the information required in the reports. The bill imposes penalties for failure to comply with such reporting requirements. The bill requires the Department of the Treasury to make publicly available annual reports on qualified opportunity funds, including, among other things, the number of such funds and the aggregate amount of assets held in such funds. Treasury must also provide additional information in every fifth year on the impacts and outcomes of a designation of a census tract as a qualified opportunity zone using specified economic indicators. Treasury must also establish procedures to protect against disclosure of return information that can be associated with any particular taxpayer or competitive or proprietary information.

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Timeline

1. 5 December 2019

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 5 December 2019

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 5 December 2019 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 5 December 2019

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 5 December 2019

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 5 December 2019

  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

• Sen. Scott, Tim [R-SC] · R · Sponsor
• Sen. Grassley, Chuck [R-IA] · R · Sponsor
• Sen. Young, Todd [R-IN] · R · Sponsor
• Sen. Gardner, Cory [R-CO] · R · Sponsor
• Sen. Ernst, Joni [R-IA] · R · Sponsor
• Sen. Cassidy, Bill [R-LA] · R · Sponsor
• Sen. Rubio, Marco [R-FL] · R · Sponsor
• Sen. Capito, Shelley Moore [R-WV] · R · Sponsor
• Sen. Lankford, James [R-OK] · R · Cosponsor
• Sen. Sinema, Kyrsten [I-AZ] · D · Cosponsor
• Sen. Loeffler, Kelly [R-GA] · R · Cosponsor
• Sen. Roberts, Pat [R-KS] · R · Cosponsor
• Sen. McSally, Martha [R-AZ] · R · Cosponsor
• · ssfi00 · Standing

Related records

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