To designate all of Puerto Rico as an opportunity zone.

I 116TH CONGRESS 2D SESSION H. R. 7492 To designate all of Puerto Rico as an opportunity zone. IN THE HOUSE OF REPRESENTATIVES JULY 6, 2020 Miss GONZA´LEZ-COLO´N of Puerto Rico introduced the following bill; which was referred to the Committee on Ways and Means A BILL To designate all of Puerto Rico as an opportunity zone. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. ALL OF PUERTO RICO DESIGNATED AS AN OP- 3 PORTUNITY ZONE. 4 (a) IN GENERAL.—Section 1400Z–1(b)(3) is amend- 5 ed by striking ‘‘that is a low-income community shall be 6 deemed to be certified and designated as a qualified oppor- 7 tunity zone, effective on the date of the enactment of Pub- 8 lic Law 115–97’’ and inserting ‘‘shall be deemed to be cer- 9 tified and designated as a qualified opportunity zone.’’ 10 VerDate Sep 11 2014 01:23 Jul 26, 2020 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H7492.IH H7492 pbinns on DSKJLVW7X2PROD with BILLS 2 •HR 7492 IH (b) EFFECTIVE DATE.—The amendment made by 1 this section shall apply to taxable years beginning after 2 December 31, 2019. 3 Æ VerDate Sep 11 2014 01:23 Jul 26, 2020 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H7492.IH H7492 pbinns on DSKJLVW7X2PROD with BILLS