Senate Bill Would Reinstate Opportunity Zone Data Mandates

Four senators, including the two who created the opportunity zone tax incentives that were folded into the 2017 tax law, introduced a bill to reinstate data and transparency requirements for the perk.

The bill (S. 1344)—introduced May 8 by Sens. Cory Booker (D-N.J.), Tim Scott (R-S.C.), Todd Young (R-Ind.), and Maggie Hassan (D-N.H.)—would require the Treasury Department to report on the progress of the tax breaks for investors in designated distressed zones—or the lack thereof. Lawmakers stripped reporting requirements out of the tax overhaul legislation in order to pass it without a Senate filibuster. ...