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To amend the Internal Revenue Code of 1986 to repeal opportunity zones.

10/28/2022, 1:46 AM

Congressional Summary of HR 5252

This bill repeals the investment tax incentive known as qualified opportunity zones on the day after the enactment date of this bill and also repeals the special basis rule for investments in such zones held for at least 10 years.

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Current Status of Bill HR 5252

Bill HR 5252 is currently in the status of Bill Introduced since November 22, 2019. Bill HR 5252 was introduced during Congress 116 and was introduced to the House on November 22, 2019.  Bill HR 5252's most recent activity was Sponsor introductory remarks on measure. (CR H9286) as of December 5, 2019

Bipartisan Support of Bill HR 5252

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
1
Democrat Cosponsors
1
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 5252

Primary Policy Focus

Taxation

Potential Impact Areas

- Business investment and capital
- Economic development
- Income tax deferral
- Income tax exclusion

Alternate Title(s) of Bill HR 5252

To amend the Internal Revenue Code of 1986 to repeal opportunity zones.
To amend the Internal Revenue Code of 1986 to repeal opportunity zones.

Comments

Sponsors and Cosponsors of HR 5252

Rashida Tlaib
Rashida Tlaib
MichiganDemocrat
Pramila Jayapal
Pramila Jayapal
WashingtonDemocrat

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