S 4780
116th Congress
Senate
Taxation
Business investment and capital
Capital gains tax
Disaster relief and insurance
Income tax deferral
Income tax rates
Louisiana
Natural disasters
Securities
Hurricane Laura Recovery Opportunity Zones Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 1, 2020
Read twice and referred to the Committee on Finance.
Oct 1, 2020
Introduced in Senate
Plain-English summary
Hurricane Laura Recovery Opportunity Zones Act
This bill designates certain low-income community areas as qualified Hurricane Laura Recovery Opportunity Zones. Such zones are areas for which a major disaster has been declared before September 30, 2020, and which have been determined by the President to warrant individual or public assistance by reason of Hurricane Laura.
The bill sets forth special rules for the treatment of capital gains in Hurricane Laura Recovery Opportunity Zones. It also expresses the sense of Congress that the rate of tax on income from capital gains in effect on the enactment date of this bill should not be changed.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1