I
117th CONGRESS
1st Session
H. R. 4177
IN THE HOUSE OF REPRESENTATIVES
June 25, 2021
Mr. Hagedorn (for himself, Mr. Balderson, Mrs. Hinson, and Mr. Duncan) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to increase the number of designated qualified opportunity zones, to extend the periods of election and deferral with regard to such zones, and for other purposes.
Short title
This Act may be cited as the Expanding Opportunity Zones Act of 2021
.
Opportunity zones
Increase to number of qualified designated opportunity zones
In general
Section 1400Z–1(d)(1) of the Internal Revenue Code of 1986 is amended by striking 25 percent
and inserting 30 percent
.
Exception
Section 1400Z–1(d)(2) of such Code is amended by striking 25
and inserting 30
.
Extension of determination period
Section 1400Z–1(c)(2)(B) of such Code is amended by striking Tax Cuts and Jobs Act
and inserting Expanding Opportunity Zones Act of 2021
.
Extension of election period
Section 1400Z–2(a)(2)(B) of such Code is amended by striking December 31, 2026.
and inserting December 31, 2029.
.
Extension of deferral of gain invested
Section 1400Z–2(b)(1)(B) of such Code is amended by striking December 31, 2026.
and inserting December 31, 2029.
Effective date
The amendments made by this Act shall take effect on the date of the enactment of this Act.