Rust to Revitalization Act of 2022

2022-03-21

Introduced in House

Rust to Revitalization Act of 2022

This bill sets forth a special rule for the certification and designation of a population census tract as a qualified opportunity zone. The population census tract must have a population of zero, was previously used for industrial purposes and is a brownfield industrial site, and is contiguous, including by water, to a population census tract that has been designated as a qualified opportunity zone.

A qualified opportunity zone is an economically distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment.

]]>

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 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.