arrow_back Back to App

Opportunity Zones: Transparency, Extension, and Community Development Fund

This act modifies the Opportunity Zones program to enhance transparency and better target investments in distressed areas. It extends tax benefits for investors and establishes a new fund to support local development, potentially leading to job creation and improved living conditions in underserved communities.
Key points
Some high-income areas may lose their Opportunity Zone status, replaced by more needy areas.
Investors in Opportunity Zones will be required to report more data on their investments, increasing transparency and allowing for impact assessment.
Tax benefits for Opportunity Zone investors are extended until the end of 2028, providing more time for investments.
A new $1 billion fund will be created to support economic development, job creation, and affordable housing in underserved communities.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_5761
Sponsor: Rep. Kelly, Mike [R-PA-16]
Process start date: 2023-09-27
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Opportunity Zones Transparency, Extension, and Improvement Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_5761.

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 2023-09-27.

What are the main provisions?

Key points include:

  • Some high-income areas may lose their Opportunity Zone status, replaced by more needy areas.
  • Investors in Opportunity Zones will be required to report more data on their investments, increasing transparency and allowing for impact assessment.
  • Tax benefits for Opportunity Zone investors are extended until the end of 2028, providing more time for investments.
  • A new $1 billion fund will be created to support economic development, job creation, and affordable housing in underserved communities.
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. Kelly, Mike [R-PA-16].

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 2025-12-25.

CATEGORIES

Taxes Public Investments Economy Real Estate