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S. 4065 117th Congress Senate

Opportunity Zones Transparency, Extension, and Improvement Act

Official title: A bill to amend the Internal Revenue Code of 1986 to modify the rules relating to qualified opportunity zones, and for other purposes.

Introduced: April 7, 2022 Introduced by: Cory A. Booker Democratic · New Jersey See on congress.gov
Taxation Administrative law and regulatory proceduresCensus and government statisticsCivil actions and liabilityCongressional oversight
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 13, 2022
Committee on Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance, and Investment. Hearings held. With printed Hearing: S.Hrg. 117-756.
Apr 7, 2022
Introduced in Senate
Apr 7, 2022
Read twice and referred to the Committee on Finance.
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 Latest action December 13, 2022

Committee on Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance, and Investment. Hearings held. With printed Hearing: S.Hrg. 117-756.

 Plain-English summary Congressional Research Service

Opportunity Zones Transparency, Extension, and Improvement Act

This bill revises rules and reinstates reporting requirements relating to qualified opportunity zones (economically distressed communities where new investments, under specified conditions, may be eligible for preferential tax treatment).

Specifically, the bill terminates the designation of zones that are disqualified due to median family income exceeding 130% of national median family income and permits states to identify and expand terminations of such zones.

The bill also reinstates reporting requirements for qualified opportunity zones and imposes penalties for noncompliance with such requirements, extends the opportunity zones temporary deferral period for qualifying capital gain through 2028, and establishes a State and Community Dynamism Fund to support public and private investment in qualified opportunity zones.

 Related & companion bills 1
  • HR 7467 Identical bill Opportunity Zones Improvement, Transparency, and Extension Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
 Cosponsors 5
All 5 Democratic 2 Republican 2
Blunt, Roy
· May 9, 2022
 R
Scott, Tim
South Carolina · Apr 7, 2022
 D
Van Hollen, Chris
Maryland · Apr 7, 2022
 D
Warner, Mark R.
Virginia · Apr 7, 2022
 R
Young, Todd
Indiana · Apr 7, 2022
Cite this page click to expand
APA
U.S. Congress. (2026). S. 4065: Opportunity Zones Transparency, Extension, and Improvement Act. 117th Congress. Open America. https://openamerica.io/bill/117-S-4065/
MLA
"S. 4065: Opportunity Zones Transparency, Extension, and Improvement Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-4065/.
Bluebook (legal)
S. 4065, 117th Cong. (2026), https://openamerica.io/bill/117-S-4065/.
Markdown link
[S. 4065: Opportunity Zones Transparency, Extension, and Improvement Act](https://openamerica.io/bill/117-S-4065/)
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