skip to main content

H.R. 970: Opportunity Zone Extension Act of 2021


The text of the bill below is as of Feb 11, 2021 (Introduced).


I

117th CONGRESS

1st Session

H. R. 970

IN THE HOUSE OF REPRESENTATIVES

February 11, 2021

(for himself and Mr. Cuellar) 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 extend the qualified opportunity zone tax incentive, and for other purposes.

1.

Short title

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

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.