Opportunity Zone Reporting and Reform Act

Read twice and referred to the Committee on Finance.

Congressional Research Service

Official summary

Version 00 · Introduced in Senate · Nov 6, 2019

Opportunity Zone Reporting and Reform Act

This bill establishes annual reporting requirements for qualified opportunity funds and requires certain identifying information on persons investing in such funds. It also provides for penalties for failing to file reports or filing reports with incorrect information, and requires public online disclosure of information in the reports.

The bill expands prohibitions of investments in certain luxury assets, including private planes, sports stadiums, self-storage facilities, and luxury rental properties. It also terminates designations of contiguous communities that are not low-income as opportunity zones.

The Internal Revenue Service must provide a publicly available list of investment vehicles that are certified as qualified opportunity funds.

The Government Accountability Office must report to Congress on the effectiveness of the Opportunity Zone program in the fifth and tenth year after the enactment of this bill.

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People & committees

Who introduced it

Sen. Wyden, Ron [D-OR] · D–OR

Committees

Finance Committee

2 cosponsorship records, including any withdrawals

Legislative record

Actions

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Nov 6, 2019
Read twice and referred to the Committee on Finance.
Nov 6, 2019
Introduced in Senate

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in Senate · Nov 6, 2019 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

HR 5042 · Opportunity Zone Reform Act

Source last updated: Jan 3, 2025. Consult Congress.gov for the current record.

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Objective

Analyze S.2787 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Discuss S.2787, 116th Congress: Opportunity Zone Reporting and Reform Act

Official record: https://www.congress.gov/bill/116th-congress/senate-bill/2787

Text version to examine: Introduced in Senate · 2019-11-06.

Official full text: https://www.congress.gov/116/bills/s2787/BILLS-116s2787is.htm

Imported record last updated by the source: 2025-01-03T03:15:40Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze S.2787 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine S.2787 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Discuss S.2787, 116th Congress: Opportunity Zone Reporting and Reform Act

Official record: https://www.congress.gov/bill/116th-congress/senate-bill/2787

Text version to examine: Introduced in Senate · 2019-11-06.

Official full text: https://www.congress.gov/116/bills/s2787/BILLS-116s2787is.htm

Imported record last updated by the source: 2025-01-03T03:15:40Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.2787 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine S.2787 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

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Discuss S.2787, 116th Congress: Opportunity Zone Reporting and Reform Act

Official record: https://www.congress.gov/bill/116th-congress/senate-bill/2787

Text version to examine: Introduced in Senate · 2019-11-06.

Official full text: https://www.congress.gov/116/bills/s2787/BILLS-116s2787is.htm

Imported record last updated by the source: 2025-01-03T03:15:40Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.2787 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

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Examine S.2787 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss S.2787, 116th Congress: Opportunity Zone Reporting and Reform Act

Official record: https://www.congress.gov/bill/116th-congress/senate-bill/2787

Text version to examine: Introduced in Senate · 2019-11-06.

Official full text: https://www.congress.gov/116/bills/s2787/BILLS-116s2787is.htm

Imported record last updated by the source: 2025-01-03T03:15:40Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.2787 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.