US HB7492 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on July 6 2020 - 25% progression, died in committee
Action: 2020-07-06 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on July 6 2020 - 25% progression, died in committee
Action: 2020-07-06 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Removes conditions on the designation of Puerto Rico as a qualified opportunity zone. In general, a qualified opportunity zone is an economically-distressed community where new investment may be eligible for preferential tax treatment.
Title
To designate all of Puerto Rico as an opportunity zone.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2020-07-06 | House | Referred to the House Committee on Ways and Means. |
| 2020-07-06 | House | Referred to the Subcommittee on Select Revenue Measures. |
| 2020-07-06 | House | Introduced in House |
Subjects
Business investment and capital
Capital gains tax
Economic development
Income tax deferral
Income tax exclusion
Puerto Rico
Taxation
U.S. territories and protectorates
Capital gains tax
Economic development
Income tax deferral
Income tax exclusion
Puerto Rico
Taxation
U.S. territories and protectorates
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/house-bill/7492/all-info |
| Text | https://www.congress.gov/116/bills/hr7492/BILLS-116hr7492ih.pdf |
