HR 4999
To amend the Internal Revenue Code of 1986 to require fairness and diversity in opportunity zone investment.
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- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill aims to promote fairness and diversity within Opportunity Zone investments. It requires qualified opportunity funds to establish investment advisory boards, meet specific investment diversity criteria, and report on how their investments will impact different racial and ethnic groups within Opportunity Zones. The bill also mandates that a certain percentage of investments in affordable housing projects must be designated for low-income residents. These requirements are designed to ensure that Opportunity Zone investments benefit the communities they are intended to serve more equitably.
Sponsors
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Primary sponsor
Henry C. "Hank," Jr. Johnson
Cosponsors
Bobby L. Rush
Eleanor Holmes [D-DC-At Large] Norton
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