[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 970 Introduced in House (IH)]

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117th CONGRESS
  1st Session
                                H. R. 970

  To amend the Internal Revenue Code of 1986 to extend the qualified 
        opportunity zone tax incentive, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                           February 11, 2021

  Mr. Burchett (for himself and Mr. Cuellar) introduced the following 
      bill; which was referred to the Committee on Ways and Means

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                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to extend the qualified 
        opportunity zone tax incentive, and for other purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Opportunity Zone Extension Act of 
2021''.

SEC. 2. EXTENSION OF ELECTION AND GAIN DEFERRAL PERIODS UNTIL DECEMBER 
              31, 2028.

    (a) Extension of Election Period.--Section 1400Z-2(a)(2)(B) of the 
Internal Revenue Code of 1986 is amended by striking ``December 31, 
2026'' and inserting ``December 31, 2028''.
    (b) Extension of Deferral Period.--Section 1400Z-2(b)(1)(B) of such 
Code is amended by striking ``December 31, 2026'' and inserting 
``December 31, 2028''.
    (c) Effective Date.--The amendments made by this section shall 
apply as if included in the enactment of section 13823 of Public Law 
115-97.
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