HR 6529
COVID-19-Impacted Small Business Opportunity Zone Act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the COVID-19-Impacted Small Business Opportunity Zone Act, modifies existing tax incentives to help small businesses affected by the COVID-19 pandemic. It allows certain small businesses that have experienced disruptions like supply chain issues, staffing challenges, or decreased sales to be treated as ‘qualified small businesses’ for opportunity zone tax benefits. This includes extending deferral periods for investments and ensuring capital gains rates don't exceed those of the year the investment was acquired, providing a temporary boost to these struggling businesses.
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Primary sponsor
Cosponsors
Debbie Lesko
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