Bills · HR 3687
IN COMMITTEE· 119TH CONGRESS
House BillHR 3687Taxation
To amend the Internal Revenue Code of 1986 to renew and enhance opportunity zones, and for other purposes.
INTRO JUN 3· LAST ACTION JUN 3
READING
20MIN
COSPONSORS
0
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it would significantly reshape the Opportunity Zones program, which aims to drive private investment into areas needing economic revitalization. If it becomes law, it would sunset the original zones, redirecting investment to a new set of areas with a strong focus on rural communities, which have historically received less attention from the program. This could lead to new businesses, housing, and jobs in designated rural areas, potentially boosting their economies.
Conversely, if it doesn't pass, the current Opportunity Zones program will largely expire at the end of 2026 (the main tax benefits winding down) without a clear successor or renewed focus, potentially leaving many communities without this specific investment incentive. Voters should care because the program uses tax incentives that affect tax revenue and aims to address economic inequality and regional disparities, impacting local economies and the availability of resources and opportunities in their communities.
KEY PROVISIONS
5AI-extractedPROVISION 01
The bill allows for a fresh round of Opportunity Zone designations, with a significant portion specifically allocated to rural areas.
This shifts the program's focus, potentially bringing much-needed investment to rural economies that may have been overlooked previously.
PROVISION 02
Investments in "qualified rural opportunity funds" would receive a larger 30% tax basis increase after 5 years, compared to 10% for other new investments.
This stronger incentive aims to specifically encourage and reward investment in rural opportunity zones.
PROVISION 03
The existing Opportunity Zone designations, created under the original program, would expire on December 31, 2026.
This means the current zones would lose their special investment status, necessitating a re-evaluation of investment strategies in those areas.
PROVISION 04
The bill both slightly broadens an income threshold for qualification but also introduces a new exclusion, preventing areas with median incomes above 125% of their regional average from being designated.
This change aims to better target truly distressed areas and prevent wealthier communities from benefiting from the program.
PROVISION 05
Taxpayers can now defer up to $10,000 of ordinary income into Opportunity Zones, not just capital gains.
This expands the pool of eligible investors and income types, potentially making the program more accessible to a wider range of individuals.
SPONSORSHIP
1 + 0
R· Pennsylvania
YRS IN OFFICE
15
BILLS LED
34
ACTION TIMELINE
2 EVENTSJUN 3
Introduced in House
JUN 3
Referred to the House Committee on Ways and Means.
BILL INFO
TypeHouse Bill
NumberHR 3687
Congress119th
StatusIn Committee
IntroducedJun 3, 2025
Last actionJun 3, 2025
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IN COMMITTEE· 119TH CONGRESS · WAYS AND MEANS COMMITTEE · INTRODUCED JUN 3, 2025
House BillHR 3687Taxation
To amend the Internal Revenue Code of 1986 to renew and enhance opportunity zones, and for other purposes.
INTRODUCED JUN 3, 2025· LAST ACTION JUN 3, 2025
PASSAGE CHANCES
—%
READING
20 min
COSPONSORS
0
COMPLEXITY
Moderate
