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New Opportunity Zone Investment Rules: Fairness, Diversity, and Agriculture.

This bill introduces new rules for funds investing in 'opportunity zones' aimed at economic revitalization. The changes ensure these investments are fairer, supporting small businesses, women, and minorities, and creating affordable housing. Additionally, a portion of funds must be allocated to modern agriculture.
Key points
Opportunity zone funds must establish local advisory boards to better serve communities.
At least 30% of investments must go to smaller communities, and 50% to businesses owned by women or disadvantaged individuals.
In residential projects within opportunity zones, at least 20% of units must be affordable for low-income individuals.
A minimum of 5% of investments must be directed towards controlled-environment agriculture, using advanced technology.
Funds will be required to assess and report on the impact of their investments on different racial and ethnic groups within the zones.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_9338
Sponsor: Rep. Johnson, Henry C. "Hank," Jr. [D-GA-4]
Process start date: 2022-11-17
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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

To amend the Internal Revenue Code of 1986 to require fairness and diversity in opportunity zone investment and to require minimum investment in controlled-environment agriculture.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_9338.

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 2022-11-17.

What are the main provisions?

Key points include:

  • Opportunity zone funds must establish local advisory boards to better serve communities.
  • At least 30% of investments must go to smaller communities, and 50% to businesses owned by women or disadvantaged individuals.
  • In residential projects within opportunity zones, at least 20% of units must be affordable for low-income individuals.
  • A minimum of 5% of investments must be directed towards controlled-environment agriculture, using advanced technology.
  • Funds will be required to assess and report on the impact of their investments on different racial and ethnic groups within the zones.
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. Johnson, Henry C. "Hank," Jr. [D-GA-4].

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

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