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Community Development in Opportunity Zones Act of 2020
2/9/2022, 12:55 AM
Congressional Summary of HR 7262
Community Development in Opportunity Zones Act of 2020
This bill includes within the definition of qualified opportunity zone business any community development financial institution. This allows qualified opportunity funds to invest in such institutions.
Read the Full Bill
Current Status of Bill HR 7262
Bill HR 7262 is currently in the status of Bill Introduced since June 18, 2020. Bill HR 7262 was introduced during Congress 116 and was introduced to the House on June 18, 2020. Bill HR 7262's most recent activity was Referred to the House Committee on Ways and Means. as of June 18, 2020
Bipartisan Support of Bill HR 7262
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
9Democrat Cosponsors
9Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 7262
Primary Policy Focus
TaxationPotential Impact Areas
- Bank accounts, deposits, capital
- Banking and financial institutions regulation
- Business investment and capital
- Economic development
- Income tax deferral
- Income tax exclusion
Alternate Title(s) of Bill HR 7262
Community Development in Opportunity Zones Act of 2020
To amend the Internal Revenue Code of 1986 to allow qualified opportunity funds to invest in community development financial institutions.
Community Development in Opportunity Zones Act of 2020
Comments
Sponsors and Cosponsors of HR 7262
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