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H.R. 7492 (116th): To designate all of Puerto Rico as an opportunity zone.


The text of the bill below is as of Jul 6, 2020 (Introduced). The bill was not enacted into law.


I

116th CONGRESS

2d Session

H. R. 7492

IN THE HOUSE OF REPRESENTATIVES

July 6, 2020

introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To designate all of Puerto Rico as an opportunity zone.

1.

All of Puerto Rico designated as an opportunity zone

(a)

In general

Section 1400Z–1(b)(3) is amended by striking that is a low-income community shall be deemed to be certified and designated as a qualified opportunity zone, effective on the date of the enactment of Public Law 115–97 and inserting shall be deemed to be certified and designated as a qualified opportunity zone.

(b)

Effective date

The amendment made by this section shall apply to taxable years beginning after December 31, 2019.