Opportunity Zones Transparency, Extension, and Improvement Act
Latest action · Sep 27, 2023 Referred to the House Committee on Ways and Means.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedSep 27, 2023
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Opportunity Zones Transparency, Extension, and Improvement Act
This bill revises rules and reinstates reporting requirements relating to qualified opportunity zones (economically distressed communities where new investments, under specified conditions, may be eligible for preferential tax treatment).
Specifically, the bill terminates the designation of zones that are disqualified due to median family income exceeding 130% of national median family income and permits states to identify and expand terminations of such zones.
The bill also reinstates reporting requirements for qualified opportunity zones and imposes penalties for noncompliance with such requirements, extends the opportunity zones temporary deferral period for qualifying capital gain through 2028, and establishes a State and Community Dynamism Fund to support public and private investment in qualified opportunity zones.
Cosponsors 15
Members who signed on, in the order they did. Signatures ran from Sep 27, 2023 to Nov 21, 2024, with 3 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-WV | Carol D. Miller | Original | Sep 27, 2023 |
| D-MI | Daniel T. Kildee | Original | Sep 27, 2023 |
| D-AL | Terri A. Sewell | Original | Sep 27, 2023 |
| R-NY | Claudia Tenney | Oct 6, 2023 | |
| R-PA | Guy Reschenthaler | Nov 9, 2023 | |
| R-NJ | Jefferson Van Drew | Nov 9, 2023 | |
| R-NY | Nicole Malliotakis | Nov 9, 2023 | |
| R-FL | Vern Buchanan | Nov 9, 2023 | |
| R-TN | David Kustoff | Dec 7, 2023 | |
| R-IL | Darin LaHood | Mar 8, 2024 | |
| R-TX | Beth Van Duyne | Mar 19, 2024 | |
| R-UT | Blake D. Moore | Mar 19, 2024 | |
| R-OH | Mike Carey | May 22, 2024 | |
| R-IN | Erin Houchin | Jun 13, 2024 | |
| R-IA | Randy Feenstra | Nov 21, 2024 |
Actions 2
Everything that happened, newest first.
- Sep 27, 2023Introduced in House
- Sep 27, 2023Referred to the House Committee on Ways and Means.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 10009 | Revitalizing America’s Housing Act | Related bill | Oct 18, 2024 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Sep 27, 2023Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.