3.0.0 2787 2022-11-01T05:02:36Z 2022-11-01T05:02:36Z Senate S 2019-11-06 116 ssfi00 Finance Committee Senate Standing Referred to 2019-11-06T15:42:37Z Opportunity Zone Reform Act 116 5042 HR 2019-11-12 Referred to the House Committee on Ways and Means. Related bill CRS 2019-11-06 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2019-11-06 Introduced in Senate IntroReferral 10000 9 Library of Congress W000779 Sen. Wyden, Ron [D-OR] Ron Wyden D OR N B001267 Sen. Bennet, Michael F. [D-CO] Michael Bennet D CO 2019-11-12 False K000383 Sen. King, Angus S., Jr. [I-ME] Angus King I ME S. 2019-11-13 False Taxation Business investment and capital Congressional oversight Economic development Financial services and investments Government information and archives Government studies and investigations Sports and recreation facilities Tax administration and collection, taxpayers Taxation 00 2019-11-06 Introduced in Senate 2019-12-04T15:12:03Z Opportunity Zone Reporting and Reform Act

This bill establishes annual reporting requirements for qualified opportunity funds and requires certain identifying information on persons investing in such funds. It also provides for penalties for failing to file reports or filing reports with incorrect information, and requires public online disclosure of information in the reports.

The bill expands prohibitions of investments in certain luxury assets, including private planes, sports stadiums, self-storage facilities, and luxury rental properties. It also terminates designations of contiguous communities that are not low-income as opportunity zones.

The Internal Revenue Service must provide a publicly available list of investment vehicles that are certified as qualified opportunity funds.

The Government Accountability Office must report to Congress on the effectiveness of the Opportunity Zone program in the fifth and tenth year after the enactment of this bill.

]]> Opportunity Zone Reporting and Reform Act Display Title Opportunity Zone Reporting and Reform Act Short Title(s) as Introduced Opportunity Zone Reporting and Reform Act Introduced in Senate IS Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to require reporting for qualified opportunity funds, to make modifications to opportunity zones, and for other purposes. Introduced in Senate IS Introduced in Senate 2019-11-06T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s2787is/xml/BILLS-116s2787is.xml 2019-11-06 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.