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HR 7262 116th Congress House

Community Development in Opportunity Zones Act of 2020

Official title: To amend the Internal Revenue Code of 1986 to allow qualified opportunity funds to invest in community development financial institutions.

Introduced: June 18, 2020 Introduced by: Meeks, Gregory W. Democratic · New York See on congress.gov
Taxation Bank accounts, deposits, capitalBanking and financial institutions regulationBusiness investment and capitalEconomic development
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Income tax deferralIncome tax exclusion
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 18, 2020
Referred to the House Committee on Ways and Means.
Jun 18, 2020
Introduced in House
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 Latest action June 18, 2020

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

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.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 7
All 7 Democratic 6
D
Barragán, Nanette Diaz
California · Jul 9, 2020
 D
Correa, J. Luis
California · Jul 9, 2020
 D
Cleaver, Emanuel
Missouri · Jun 18, 2020
Crist, Charlie
· Jun 18, 2020
 D
Gallego, Ruben
Arizona · Jun 18, 2020
 D
Green, Al
Texas · Jun 18, 2020
 D
Quigley, Mike
Illinois · Jun 18, 2020
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 7262: Community Development in Opportunity Zones Act of 2020. 116th Congress. Open America. https://openamerica.io/bill/116-HR-7262/
MLA
"H.R. 7262: Community Development in Opportunity Zones Act of 2020." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-7262/.
Bluebook (legal)
H.R. 7262, 116th Cong. (2026), https://openamerica.io/bill/116-HR-7262/.
Markdown link
[H.R. 7262: Community Development in Opportunity Zones Act of 2020](https://openamerica.io/bill/116-HR-7262/)
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