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

FEB. 11, 2021

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

DATED FEB. 11, 2021
DOCUMENT ATTRIBUTES
  • Authors
    Burchett, Rep. Tim
  • Institutional Authors
    U.S. House of Representatives
  • Code Sections
  • Subject Area/Tax Topics
  • Jurisdictions
  • Tax Analysts Document Number
    2021-14146
  • Tax Analysts Electronic Citation
    2021 TNTF 65-9
Citations: H.R. 970; Opportunity Zone Extension Act of 2021

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.

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

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. 

DOCUMENT ATTRIBUTES
  • Authors
    Burchett, Rep. Tim
  • Institutional Authors
    U.S. House of Representatives
  • Code Sections
  • Subject Area/Tax Topics
  • Jurisdictions
  • Tax Analysts Document Number
    2021-14146
  • Tax Analysts Electronic Citation
    2021 TNTF 65-9
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