Senate ‘Opportunity Zone’ Sponsors Mull Bill to Require Reporting

Sen. Tim Scott said he is discussing “opportunity zone” legislation with Sen. Cory Booker that would reinstate reporting requirements removed right before the passage of the tax overhaul.

“I know Cory Booker and myself and a couple of others have had conversations about legislation that would reinforce or reinstate the reporting requirements,” Scott told Bloomberg Tax at a March 27 event at the National Press Club in Washington.

He added that the Treasury Department was also considering including reporting requirements in the third batch of regulations for the provision, under tax code Sections 1400Z-1 and 1400Z-2.