HR 5761
Opportunity Zones Transparency, Extension, and Improvement Act
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Bill overview
The Opportunity Zones Transparency, Extension, and Improvement Act aims to strengthen the existing Opportunity Zone program. It modifies rules for designating qualified opportunity zones, allowing states to replace zones that no longer meet income criteria and reinstating reporting requirements to evaluate the program's impact. The bill also extends the temporary deferral period for capital gains invested in these zones and establishes a fund to support investment in these communities. Ultimately, this legislation seeks to improve the program's accountability and effectiveness.
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