Daily Tax Report ®

Cory Booker Finalizing Opportunity Zone Reporting Bill

March 28, 2019, 9:08 PM

Sen. Cory Booker (D-N.J.), one of the two authors of the original “opportunity zones” legislation, is finalizing a bill to reinstate requirements for the Treasury Department to report to Congress on the effects of the tax breaks, according to a Senate aide.

Lawmakers scrapped the provision’s reporting requirements—including investor asset class, zones receiving investment, poverty reduction, and job creation—from the 2017 tax overhaul when the GOP used reconciliation to pass the law by a simple majority vote.

  • The Senate staffer declined to provide a timeline or estimated date of introduction.
  • The confirmation comes less than a day after Sen. Tim...
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