HR 7467
Opportunity Zones Improvement, Transparency, and Extension Act
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Bill overview
This bill, the Opportunity Zones Improvement, Transparency, and Extension Act, aims to refine and extend the Opportunity Zones program, which offers tax incentives for investments in economically distressed communities. It modifies rules regarding census tract designations, allowing states to replace disqualified zones and reinstating reporting requirements to evaluate the program’s impact. The bill also extends the temporary deferral period for capital gains invested in opportunity zones through 2028 and establishes a fund to support further investment in these areas. Specifically, it addresses the potential for high median family incomes to disqualify zones and provides a mechanism for states to manage these designations.
Sponsors
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Primary sponsor
Ron Kind
Cosponsors
Anthony G. Brown
Daniel T. Kildee
Jackie Walorski
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