Increasing Opportunity For Reindustrialization Act

This bill changes federal tax law so that census tracts containing any part of a former Department of Defense installation closed through a base realignment and closure (BRAC) round can be designated as qualified opportunity zones. These tracts would not count as low-income communities when applying the existing limits on how many tracts a state may designate. Each state's cap on opportunity zone designations would increase by the number of these former-base tracts it nominates. The changes would apply to designations made after the bill becomes law.

Full text and official record on Congress.gov

Sponsors

• W. Gregory Steube Republican sponsor
• 2 cosponsors