Introduced in House Passed House Introduced in Senate Passed Senate To President Became Law
11/22/2019          

To amend the Internal Revenue Code of 1986 to repeal opportunity zones.

Date Version PDF TXT
12/10/2019 Introduced in House Open
11/22/2019 Introduced in House Open

            


116th CONGRESS
1st Session
H. R. 5252


To amend the Internal Revenue Code of 1986 to repeal opportunity zones.


IN THE HOUSE OF REPRESENTATIVES

November 22, 2019

Ms. Tlaib (for herself and Ms. Jayapal) introduced the following bill; which was referred to the Committee on Ways and Means


A BILL

To amend the Internal Revenue Code of 1986 to repeal opportunity zones.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Repeal of opportunity zones and recognition of deferred gain.

(a) In general.—Effective on the day after the date of the enactment of this Act, subchapter Z of chapter 1 of the Internal Revenue Code of 1986 is repealed, and any gain to which section 1400Z–2(a)(1)(B) of such Code would have otherwise applied shall be included in income under section 1400Z–2(b) of such Code (determined by substituting the date of the enactment of this Act for “December 31, 2026” in paragraph (1)(B) thereof).

(b) Repeal of special rule for investments held for at least 10 years.—For purposes of section 1400Z–2(c) of such Code, the repeal under subsection (a) shall be effective with respect to any investment held before, on, or after the date of the enactment of this Act.


Picture Name From Date Type
Rashida Tlaib D-MI 11/22/2019 Sponsor
Pramila Jayapal D-WA 11/22/2019 Cosponsor
Date Branch Action
12/05/2019 President Sponsor introductory remarks on measure. (CR H9286)Action By: House of Representatives
11/22/2019 President Referred to the House Committee on Ways and Means.Action By: House of Representatives
11/22/2019 President Introduced in HouseAction By: House of Representatives
Summary
There is one summary for H.R.5252. View summaries Shown Here:Introduced in House (11/22/2019) This bill repeals the investment tax incentive known as qualified opportunity zones on the day after the enactment date of this bill and also repeals the special basis rule for investments in such zones held for at least 10 years.
Shown Here:Introduced in House (11/22/2019) This bill repeals the investment tax incentive known as qualified opportunity zones on the day after the enactment date of this bill and also repeals the special basis rule for investments in such zones held for at least 10 years.
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