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New Investment Zones: Opportunity for Growth and Tax Benefits Every 10 Years

This act introduces the cyclical designation of special investment areas, known as Opportunity Zones, every 10 years. This allows investors to more frequently benefit from tax incentives, potentially stimulating economic development in selected areas and creating new jobs. Citizens may experience positive changes in local infrastructure and service availability.
Key points
New Opportunity Zones will be designated every 10 years, starting from January 1, 2027.
Investors can receive tax benefits on capital gains by investing in these zones.
The same location can be re-designated as an Opportunity Zone if it meets the criteria.
The changes aim to support long-term economic development in less affluent regions.
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Additional Information
Print number: 117_HR_4608
Sponsor: Rep. Steel, Michelle [R-CA-48]
Process start date: 2021-07-21
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Growth and Opportunities Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_4608.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-07-21.

What are the main provisions?

Key points include:

  • New Opportunity Zones will be designated every 10 years, starting from January 1, 2027.
  • Investors can receive tax benefits on capital gains by investing in these zones.
  • The same location can be re-designated as an Opportunity Zone if it meets the criteria.
  • The changes aim to support long-term economic development in less affluent regions.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Steel, Michelle [R-CA-48].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Taxes Economy Real Estate