Loading…
Legislative Progress
Momentum (last 30 days)
0
score
0 actions · 0 new cosponsors · 0 votes
Speed vs cohort
0pct
0d open
vs 6,526 other HR bills in the 114th — cohort avg 56d
Investing in Opportunity Act This bill amends the Internal Revenue Code to authorize the designation of opportunity zones in low-income communities and to provide tax incentives for investments in the zones, including deferring the recognition of capital gains that are reinvested in the zones. Governors may submit nominations for a limited number of opportunity zones to the Department of the Treasury for certification and designation. Governors must give particular consideration to areas that: are currently the focus of mutually reinforcing state, local, or private economic development initiatives to attract investment and foster startup activity; have demonstrated success in geographically targeted development programs such as promise zones, the new markets tax credit, empowerment zones, and renewal communities; and have recently experienced significant layoffs due to business closures or relocations. Treasury must designate zones if a governor fails to submit nominations within a specified period of time. The bill defines opportunity funds as any investment vehicle organized as a corporation or a partnership to invest in opportunity zones that holds at least 90% of its assets in opportunity zone assets. Taxpayers may temporarily defer the recognition of capital gains that are invested in opportunity zones or opportunity funds. Investments that are held for at least five years are eligible for capital gains tax reductions or exemptions, depending on how long the investment is held. Treasury must report to Congress on the opportunity zone incentives enacted in this bill, including an assessment of opportunity fund investments at the national and state levels.
These links require the bill number to appear in the filing's source-reported specific issue text. Client expenses and lobbying-firm income are separate disclosure fields.
Filing registrants (4)
2016 · fourth_quarter · Taxation/Internal Revenue Code
Issues relating to tax policies to incentivize investment in distressed communities, including the Investing in Opportunity Act (S. 2868 / H.R. 5082).
Referred to the House Committee on Ways and Means.
Introduced in House
Congress.gov source codes: 1000, Intro-H
Bills with similar content found using semantic analysis.
Sources: Congress.gov
Client expense: $230,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2016 · fourth_quarter · Economics/Economic Development
Issues relating to economic development of distressed communities, including the Investing in Opportunity Act (S. 2868 / H.R. 5082).
Client expense: $230,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2016 · fourth_quarter · Taxation/Internal Revenue Code
Issues relating to taxation HR 5082 / S.2868 The Investing in Opportunity Act
Client expense: Not reported · Firm income: $30,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2016 · fourth_quarter · Economics/Economic Development
Issues relating to economic development HR 5082 / S.2868 The Investing in Opportunity Act
Client expense: Not reported · Firm income: $30,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2016 · fourth_quarter · Economics/Economic Development
Policy issues related to economic growth and revitalization of distressed communities (HR 5082, S 2868).
Client expense: Not reported · Firm income: $50,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2016 · fourth_quarter · Taxation/Internal Revenue Code
Issues related to capital gains tax treatment (S 2868 and HR 5082).
Client expense: Not reported · Firm income: $50,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2016 · third_quarter · Economics/Economic Development
Issues relating to economic development HR 5082 / S.2868 The Investing in Opportunity Act
Client expense: Not reported · Firm income: $30,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2016 · third_quarter · Taxation/Internal Revenue Code
Issues relating to taxation HR 5082 / S.2868 The Investing in Opportunity Act
Client expense: Not reported · Firm income: $30,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2016 · third_quarter · Taxation/Internal Revenue Code
Issues relating to tax policies to incentivize investment in distressed communities, including the Investing in Opportunity Act (S. 2868 / H.R. 5082).
Client expense: $240,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2016 · third_quarter · Economics/Economic Development
Issues relating to economic development of distressed communities, including the Investing in Opportunity Act (S. 2868 / H.R. 5082).
Client expense: $240,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2016 · third_quarter · Taxation/Internal Revenue Code
Issues related to capital gains tax treatment (S 2868 and HR 5082).
Client expense: Not reported · Firm income: $50,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2016 · third_quarter · Economics/Economic Development
Policy issues related to economic growth and revitalization of distressed communities (HR 5082, S 2868).
Client expense: Not reported · Firm income: $50,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2016 · second_quarter · Taxation/Internal Revenue Code
Tax Reform Promoted comprehensive approach to tax reform that avoids enacting reform for C corporations at the expense of flow-through entities or otherwise disadvantaging multifamily real estate relative to other asset classes. Support maintaining current law regarding: (1) the tax treatment of carried interest; (2) the full deductibility of business interest; (3) the Low-Income Housing Tax Credit (while also increasing program resources) and tax-exempt private activity housing bonds; (4) the permanent estate tax rules enacted in January 2013; (5) Section 1031 like-kind exchanges; (6) the 27.5-year depreciation period for multifamily buildings; (7) depreciation recapture; and (8) the deductibility of state and local real estate taxes. We oppose proposals increasing taxes on capital gains. Finally, we favor: (1) repealing or reforming FIRPTA rules to incent foreign investment in U.S. real estate; and (2) expanding incentives for energy efficiency in commercial buildings (i.e., Internal Revenue Code Section 179D). House Republican Tax Reform Blueprint, A Better Way: A Pro-Growth Tax Code for All Americans H.R. 4377, American Business Competitiveness Act of 2015, to amend the Internal Revenue Code of 1986 to tax business income on a cash flow basis and for other purposes, all provisions. Draft legislation, Simplifying America's Tax System Act of 2016, all provisions. Discussion Draft released by Senator Wyden, Cost Recovery Reform and Simplification Act of 1986, to amend the Internal Revenue Code of 1986 to modify rules relating to cost recovery, all provisions. Discussion Draft released by Senator Wyden, Modernization of Derivatives Tax Act of 2016, to amend the Internal Revenue Code of 1986 to modernize the tax treatment of derivatives and their underlying investments, and for other purposes, all provisions. Senate Committee on Finance Chairman's Staff Discussion Draft to Reform Certain Business Provisions (113th Congress). Section 2: Repeal of Certain Specialized Expensing Provisions (i.e., Section 179D). Section 11: Pooled Asset Cost Recovery System and Depreciation of Real Property. Section 12. Rules Related to Treatment of Gains from Depreciable Property. Section 15. Repeal of Like-Kind Exchanges. Tax reform proposals for which legislation has yet been introduced to provide for corporate integration. Energy H.R. 5167, Technologies for Energy Security Act, to amend the Internal Revenue Code of 1986 to extend the credit for residential energy efficient property and the energy credit, all provisions. Supported multi-year extension of Section 179D Energy Efficient Commercial Buildings Deduction (with the bipartisan refinements to the provision included in S. 1946, the Tax Relief Extension Act of 2015). We also supported extension of the Section 45L New Energy Efficient Home Credit and the Section 48 Energy Credit. Low-Income Housing Tax Credit (LIHTC) S. 2962, Affordable Housing Credit Improvement Act of 2016, to amend the Internal Revenue Code of 1986 to reform the low-income housing tax credit, and for other purposes, all provisions. Draft legislation to amend the Internal Revenue Code of 1986 to allow the conversion of private activity bond volume cap into State housing credit ceiling for allocation under the low-income housing tax credit, all provisions. Obama Administration FY 2017 Revenue Proposal, Reform and Expand the Low-Income Housing Tax Credit, Allow Conversion of Private Activity Bond Volume Cap into LIHTCs and Encourage Mixed Income Occupancy by allowing LIHTC-Supported Projects to Elect a Criterion Employing a Restriction on Average Income. Carried Interest H.R. 2889, Carried Interest Fairness Act of 2015, to amend the Internal Revenue Code of 1986to provide for the proper tax treatment of personal service income earned in pass-thru entities, all provisions. S. 1686, Carried Interest Fairness Act of 2015, to amend the Internal Revenue Code of 1986 to provide for the proper tax treatment of personal service income earned in pass-thru entities, all provisions. Obama Administration FY 2017 Revenue Proposal, Tax Carried (Profits) Interests as Ordinary Income Partnership Audits P.L. 114-74, H.R. 1314, Bipartisan Budget Act of 2015, Section 1101, partnership audits and adjustments. IRS Notice 2016-23, Request for Comments Regarding Implementation of the New Partnership Audit Regime Enacted as Part of the Bipartisan Budget Act of 2015 Housing Affordability Housing Affordability tax incentives (including developer tax incentives and bond preservation possibilities) H.R. 5082 / S. 2868, Investing in Opportunity Act, to amend the Internal Revenue Code of 1986 to provide for the deferral of inclusion in gross income for capital gains reinvested in economically distressed zones, all provisions. H.R. 5539, Preserving Investment in Needy Neighborhoods Act, to amend the Internal Revenue Code of 1986 to exclude from gross income contributions to the capital of a partnership, all provisions. Worker Classification H.R. 5008, Clarify Workers Misclassification in the Construction Industry Act, to direct the Secretary of the Treasury to improve tax compliance in the construction industry, including clarifying the employment status of service providers in the construction industry, and for other purposes, all provisions. Tax Regulations Internal Revenue Service REG-129067-15, Definition of Political Subdivision Department of the Treasury, Internal Revenue Service REG-108060-15, Treatment of Certain Interests in Corporations as Stock or Indebtedness
2016 · second_quarter · Economics/Economic Development
Issues relating to economic development of distressed communities, including the Investing in Opportunity Act (S. 2868 / H.R. 5082).
Client expense: $280,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2016 · second_quarter · Taxation/Internal Revenue Code
Issues relating to tax policies to incentivize investment in distressed communities, including the Investing in Opportunity Act (S. 2868 / H.R. 5082).
Client expense: $280,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2016 · second_quarter · Economics/Economic Development
Policy issues related to economic growth and revitalization of distressed communities (HR 5082, S 2868).
Client expense: Not reported · Firm income: $50,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2016 · second_quarter · Taxation/Internal Revenue Code
Issues related to capital gains tax treatment (S 2868 and HR 5082).
Client expense: Not reported · Firm income: $50,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
| Democratic |
| IL |
| Brad R. Wenstrup | Republican | OH |
| Bradley Byrne | Republican | AL |
| Carlos Curbelo | Republican | FL |
| Charles W. Boustany Jr. | Republican | LA |
| David G. Reichert | Republican | WA |
| David P. Joyce | Republican | OH |
| David Rouzer | Republican | NC |
| Derek Kilmer | Democratic | WA |
| Devin Nunes | Republican | CA |
| Earl Blumenauer | Democratic | OR |
| Emanuel Cleaver | Democratic | MO |
| Eric Swalwell | Democratic | CA |
| Erik Paulsen | Republican | MN |
| Evan H. Jenkins | Republican | WV |
| F. James Sensenbrenner, Jr. | Republican | WI |
| Fred Upton | Republican | MI |
| George Holding | Republican | NC |
| Grace F. Napolitano | Democratic | CA |
| James B. Renacci | Republican | OH |
| Jared Polis | Democratic | CO |
| Jason Smith | Republican | MO |
| Jim Cooper | Democratic | TN |
| John B. Larson | Democratic | CT |
| John K. Delaney | Democratic | MD |
| Kenny Marchant | Republican | TX |
| Kevin Yoder | Republican | KS |
| Kristi L. Noem | Republican | SD |
| Kyrsten Sinema | Independent | AZ |
| Leonard Lance | Republican | NJ |
| Lynn Jenkins | Republican | KS |
| Mark Walker | Republican | NC |
| Norma J. Torres | Democratic | CA |
| Patrick Meehan | Republican | PA |
| Patrick T. McHenry | Republican | NC |
| Pete Aguilar | Democratic | CA |
| Peter J. Roskam | Republican | IL |
| Peter T. King | Republican | NY |
| Renee L. Ellmers | Republican | NC |
| Richard E. Neal | Democratic | MA |
| Rick Larsen | Democratic | WA |
| Robert J. Dold | Republican | IL |
| Rodney Davis | Republican | IL |
| Ron Kind | Democratic | WI |
| Rubén Hinojosa | Democratic | TX |
| Sam Farr | Democratic | CA |
| Scott Perry | Republican | PA |
| Sean P. Duffy | Republican | WI |
| Seth Moulton | Democratic | MA |
| Steve Chabot | Republican | OH |
| Steve Stivers | Republican | OH |
| Suzan K. DelBene | Democratic | WA |
| Ted Lieu | Democratic | CA |
| Terri A. Sewell | Democratic | AL |
| Thomas J. Rooney | Republican | FL |
| Todd Young | Republican | IN |
| Tom Marino | Republican | PA |
| Tom Reed | Republican | NY |
Client expense: $800,000 · Firm income: Not reported
Government targets: Army, Dept of (Corps of Engineers), Bureau of Economic Analysis, Congressional Budget Office (CBO), Environmental Protection Agency (EPA), Federal Communications Commission (FCC), Federal Emergency Management Agency (FEMA), Federal Reserve System, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Office of Management & Budget (OMB), SENATE, Small Business Administration (SBA), Treasury, Dept of, U.S. Postal Service (USPS)