HR 5252
To amend the Internal Revenue Code of 1986 to repeal opportunity zones.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill seeks to eliminate the Opportunity Zone program, a tax incentive designed to encourage investment in economically distressed communities. Specifically, it would repeal the relevant sections of the Internal Revenue Code that created and governed Opportunity Zones, effectively ending the program on the day after the bill becomes law. Any gains previously deferred through Opportunity Zone investments would be recognized as taxable income on that date. This legislation aims to remove this tax provision.
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