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New Investment Zones: Revitalizing Industrial Lands

This act expands the Opportunity Zones program to include contaminated or unused industrial lands adjacent to existing zones. The goal is to encourage investment in these areas, potentially leading to job creation and local development. These changes could impact job availability and infrastructure development in certain regions.
Key points
Opportunity Zone Expansion: Unused industrial sites (brownfields) with zero population, contiguous to existing Opportunity Zones, will be included in the program.
Investment Incentives: Investors in these newly designated areas may receive tax benefits, aiming to accelerate their revitalization.
Support for Local Communities: The objective is economic revitalization of neglected areas, potentially benefiting residents through new jobs and improved living conditions.
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Additional Information
Print number: 117_HR_7183
Sponsor: Rep. Kildee, Daniel T. [D-MI-5]
Process start date: 2022-03-21
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Rust to Revitalization Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7183.

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 2022-03-21.

What are the main provisions?

Key points include:

  • Opportunity Zone Expansion: Unused industrial sites (brownfields) with zero population, contiguous to existing Opportunity Zones, will be included in the program.
  • Investment Incentives: Investors in these newly designated areas may receive tax benefits, aiming to accelerate their revitalization.
  • Support for Local Communities: The objective is economic revitalization of neglected areas, potentially benefiting residents through new jobs and improved living conditions.
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. Kildee, Daniel T. [D-MI-5].

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.

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