Senator Scott introduces the Opportunity Zones Transparency, Extension, and Improvement Act
Senator Scott introduced a bipartisan bill to expand and improve his signature legislation: Opportunity Zones. The legislation, which first passed as a part of the 2017 tax cuts, incentivizes investment of unrealized capital gains into high-impact projects in high-need, underserved communities. His bill would make Opportunity Zones stronger by:
- Reinstating and expanding the reporting requirements;
- Ending Opportunity Zones that are no longer impoverished;
- Creating pathways for smaller-dollar impact investments;
- Providing operating support and technical assistance to high-poverty and underserved communities with flexible grants; and
- Extending the program for two years in order to facilitate continued investment.
