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H.R. 2292: Economic Opportunity for Distressed Communities Act

This bill, known as the Economic Opportunity for Distressed Communities Act, proposes amendments to the Internal Revenue Code to create special rules for capital gains that are reinvested in distressed communities. Its primary aims are to encourage investment in 'qualified distressed opportunity zones,' which include brownfield sites and areas listed on the National Priorities List due to environmental contamination. Here’s a breakdown of the key provisions:

Special Capital Gains Treatment

The bill allows taxpayers to exclude from their gross income a portion of capital gains if they invest that amount in a 'qualified distressed opportunity fund' within 180 days of the sale or exchange. Key aspects include:

  • Exclusion Amount: The exclusion applies to gains that do not exceed the total investment made in the fund.
  • Election: Taxpayers must elect to exclude this gain, and certain restrictions apply—the election cannot be made if another election regarding the same sale is in effect, nor for sales or exchanges after December 31, 2033.

Deferral of Recognized Gains

Recognized capital gains that are reinvested are deferred and included in tax income during the earlier of when the investment is sold or exchanged, or by December 31, 2033. The recognized gain will consist of the difference between the investment's fair market value at sale and the original amount invested.

Special Rules for Long-term Investments

  • Investments Held for 5 Years: The investment's basis will increase by 10% of the deferred gain.
  • Investments Held for 7 Years: An additional increase in the basis by another 5% of the deferred gain will apply.
  • Investments Held for 10 Years: If held for at least 10 years, the investment's basis may be adjusted to its fair market value at the time of sale or exchange.

Qualified Distressed Opportunity Funds

A 'qualified distressed opportunity fund' is defined as an investment vehicle that invests at least 90% of its assets in qualified distressed opportunity zone property. The property includes:

  • Distressed opportunity zone stock
  • Distressed opportunity zone partnership interests
  • Distressed opportunity zone business property

Qualified Distressed Opportunity Zone Properties

These properties are specifically identified as brownfield sites or facilities on the National Priorities List which refers to locations with environmental risks.

Rules for Compliance

If a fund does not maintain the required 90% investment in qualified properties, it may incur penalties. The penalty assessed will depend on the shortfall between the amount required and the actual amount invested in qualified properties.

Regulatory Oversight

The Secretary of the Treasury is empowered to create regulations necessary to implement these new rules, ensuring compliance and preventing abuse of the provisions related to capital gains exclusion and investment qualification.

Effective Date

The provisions of this bill would apply to investments made after the date of enactment.

Relevant Companies

  • PLNT: Planet Fitness could be impacted as it may seek to invest in qualified distressed opportunities for potential expansion.
  • AMZN: Amazon could potentially utilize the fund mechanism if it looks to develop facilities in distressed areas.
  • CSCO: Cisco Systems might consider investing in technology initiatives in distressed regions, benefiting from potential tax advantages.

This is an AI-generated summary of the bill text. There may be mistakes.

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Sponsors

2 bill sponsors

Actions

2 actions

Date Action
Mar. 24, 2025 Introduced in House
Mar. 24, 2025 Referred to the House Committee on Ways and Means.

Corporate Lobbying

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* Note that there can be significant delays in lobbying disclosures, and our data may be incomplete.

Potentially Relevant Congressional Stock Trades

Estimated excess return of the underlying stock since the transaction
Politician Stock Transaction Filed Traded
Congress pfp
Marjorie Taylor Greene R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Apr 11, 2025 Apr 08, 2025 -4.80%
Congress pfp
Marjorie Taylor Greene R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Apr 07, 2025 Apr 04, 2025 -3.01%
Congress pfp
Dwight Evans D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Apr 17, 2025 Apr 03, 2025 -1.17%
Congress pfp
Greg Landsman D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Sale $1,001 - $15,000
Apr 08, 2025 Mar 27, 2025 -7.12%
Congress pfp
David Taylor R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Apr 03, 2025 Mar 27, 2025 -7.12%
Congress pfp
Byron Donalds R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Apr 14, 2025 Mar 20, 2025 -4.49%
Congress pfp
Byron Donalds R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Apr 14, 2025 Mar 20, 2025 -4.49%
Congress pfp
Bruce Westerman R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Sale $1,001 - $15,000
Apr 16, 2025 Mar 20, 2025 -4.49%
Congress pfp
Bruce Westerman R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $15,001 - $50,000
Apr 16, 2025 Mar 03, 2025 -5.93%
Congress pfp
Greg Landsman D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Sale $1,001 - $15,000
Mar 05, 2025 Feb 26, 2025 -7.98%
Congress pfp
Scott Franklin R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $50,001 - $100,000
Mar 18, 2025 Feb 26, 2025 -7.98%
Congress pfp
Scott Franklin R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Mar 18, 2025 Feb 26, 2025 -7.98%
Congress pfp
John Boozman R / Senate
AMZN logo
AMZN Amazon.com Inc
Purchase $1,001 - $15,000
Mar 06, 2025 Feb 26, 2025 -7.98%
Congress pfp
Scott Franklin R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Mar 18, 2025 Feb 26, 2025 -7.98%
Congress pfp
Thomas H. Kean, Jr. R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Mar 14, 2025 Feb 26, 2025 -7.98%
Congress pfp
Josh Gottheimer D / House
CSCO logo
CSCO CISCO SYSTEMS, INC. - COMMON STOCK
Sale $1,001 - $15,000
Mar 06, 2025 Feb 21, 2025 -0.55%
Congress pfp
Greg Landsman D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $15,001 - $50,000
Mar 05, 2025 Feb 20, 2025 -8.77%
Congress pfp
Markwayne Mullin R / Senate
AMZN logo
AMZN Amazon.com Inc
Purchase $15,001 - $50,000
Feb 27, 2025 Feb 13, 2025 -11.38%
Congress pfp
John Boozman R / Senate
AMZN logo
AMZN Amazon.com Inc
Purchase $1,001 - $15,000
Mar 06, 2025 Feb 04, 2025 -16.14%
Congress pfp
Marjorie Taylor Greene R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Jan 27, 2025 Jan 21, 2025 -12.46%
Congress pfp
Thomas H. Kean, Jr. R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Feb 19, 2025 Jan 16, 2025 -10.69%
Congress pfp
Nancy Pelosi D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $250,001 - $500,000
Jan 17, 2025 Jan 14, 2025 -11.14%
Congress pfp
John Boozman R / Senate
CSCO logo
CSCO Cisco Systems Inc
Sale (Full) $1,001 - $15,000
Feb 08, 2025 Jan 14, 2025 +3.58%
Congress pfp
Marjorie Taylor Greene R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Jan 27, 2025 Jan 08, 2025 -11.55%
Congress pfp
Marjorie Taylor Greene R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Jan 27, 2025 Jan 08, 2025 -11.55%
Congress pfp
Marjorie Taylor Greene R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Jan 27, 2025 Jan 08, 2025 -11.55%
Congress pfp
Marjorie Taylor Greene R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Jan 27, 2025 Jan 08, 2025 -11.55%
Congress pfp
Marco Rubio R / Senate
CSCO logo
CSCO Cisco Systems Inc
Sale (Full) $1,001 - $15,000
Feb 06, 2025 Jan 07, 2025 +5.24%
Congress pfp
William R. Keating D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Jan 15, 2025 Jan 07, 2025 -11.66%
Congress pfp
James Comer R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Jan 10, 2025 Jan 02, 2025 -11.65%
Congress pfp
James Comer R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Jan 10, 2025 Jan 02, 2025 -11.65%
Congress pfp
Marjorie Taylor Greene R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Dec 27, 2024 Dec 24, 2024 -12.17%
Congress pfp
Jonathan L. Jackson D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $15,001 - $50,000
Dec 12, 2024 Nov 27, 2024 -4.00%
Congress pfp
Marjorie Taylor Greene R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Nov 21, 2024 Nov 20, 2024 -4.05%
Congress pfp
Michael T. McCaul R / House
AMZN logo
AMZN AMAZON.COM INC
Sale $50,001 - $100,000
Dec 16, 2024 Nov 19, 2024 -4.80%
Congress pfp
Michael T. McCaul R / House
AMZN logo
AMZN AMAZON COM INC COM
Sale $100,001 - $250,000
Dec 16, 2024 Nov 19, 2024 -4.80%
Congress pfp
Michael T. McCaul R / House
AMZN logo
AMZN AMAZON.COM INC
Sale $50,001 - $100,000
Dec 16, 2024 Nov 19, 2024 -4.80%
Congress pfp
Michael T. McCaul R / House
AMZN logo
AMZN AMAZON COM INC COM
Sale $100,001 - $250,000
Dec 16, 2024 Nov 19, 2024 -4.80%
Congress pfp
Morgan McGarvey D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Sale $1,001 - $15,000
Dec 10, 2024 Nov 13, 2024 -7.52%
Congress pfp
Michael Guest R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Dec 20, 2024 Nov 08, 2024 -5.08%
Congress pfp
Jared Moskowitz D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Dec 09, 2024 Nov 08, 2024 -5.08%
Congress pfp
Jared Moskowitz D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Dec 09, 2024 Nov 08, 2024 -5.08%
Congress pfp
Jared Moskowitz D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Dec 09, 2024 Nov 08, 2024 -5.08%
Congress pfp
William R. Keating D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Nov 06, 2024 Oct 31, 2024 +0.02%
Congress pfp
Dwight Evans D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Sale $15,001 - $50,000
Apr 02, 2025 Oct 29, 2024 -0.04%
Congress pfp
Greg Landsman D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Sale $15,001 - $50,000
Nov 14, 2024 Oct 15, 2024 +1.17%
Congress pfp
Greg Landsman D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Sale $15,001 - $50,000
Nov 14, 2024 Oct 15, 2024 +1.17%
Congress pfp
John James R / House
CSCO logo
CSCO CISCO SYSTEMS, INC. - COMMON STOCK
Sale $1,001 - $15,000
Sep 06, 2024 Sep 04, 2024 +16.62%
Congress pfp
John James R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Sale $1,001 - $15,000
Sep 06, 2024 Sep 04, 2024 +4.01%
Congress pfp
Marjorie Taylor Greene R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Sep 04, 2024 Sep 03, 2024 +2.60%
Congress pfp
Greg Landsman D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Sale $15,001 - $50,000
Sep 23, 2024 Aug 21, 2024 +1.93%
Congress pfp
Marjorie Taylor Greene R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Aug 22, 2024 Aug 21, 2024 +1.93%
Congress pfp
Scott Franklin R / House
CSCO logo
CSCO CISCO SYSTEMS, INC. - COMMON STOCK
Sale $1,001 - $15,000
Aug 20, 2024 Aug 01, 2024 +20.69%
Congress pfp
Jared Moskowitz D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Aug 06, 2024 Jul 05, 2024 -8.61%
Congress pfp
Jared Moskowitz D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Aug 19, 2024 Jul 05, 2024 -8.61%
Congress pfp
Jared Moskowitz D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Aug 19, 2024 Jul 05, 2024 -8.61%
Congress pfp
Jared Moskowitz D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Aug 06, 2024 Jul 05, 2024 -8.61%
Congress pfp
Josh Gottheimer D / House
CSCO logo
CSCO CISCO SYSTEMS, INC. - COMMON STOCK
Sale $1,001 - $15,000
Jul 09, 2024 Jun 21, 2024 +21.47%
Congress pfp
Greg Landsman D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Aug 14, 2024 Jun 03, 2024 -2.96%
Congress pfp
William R. Keating D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $15,001 - $50,000
May 22, 2024 May 17, 2024 -5.97%
Congress pfp
Greg Landsman D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Aug 14, 2024 Apr 12, 2024 -10.32%
Congress pfp
Shri Thanedar D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Sale $1,001 - $15,000
May 15, 2024 Apr 02, 2024 -5.93%
Congress pfp
Shri Thanedar D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Sale $1,001 - $15,000
May 15, 2024 Apr 02, 2024 -5.93%
Congress pfp
Brian J. Mast R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $350.78
Mar 26, 2024 Mar 04, 2024 -5.57%
Congress pfp
Earl Blumenauer D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $15,001 - $50,000
Mar 02, 2024 Feb 12, 2024 -4.93%
Congress pfp
Shri Thanedar D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Sale $1,001 - $15,000
Feb 23, 2024 Jan 25, 2024 +1.53%
Congress pfp
Shri Thanedar D / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Sale $1,001 - $15,000
Feb 23, 2024 Jan 25, 2024 +1.53%
Congress pfp
Blake D. Moore R / House
AMZN logo
AMZN AMAZON.COM, INC.
Sale $15,001 - $50,000
Jan 24, 2024 Jan 19, 2024 +1.96%
Congress pfp
Blake D. Moore R / House
AMZN logo
AMZN AMAZON.COM, INC.
Sale $1,001 - $15,000
Jan 24, 2024 Jan 19, 2024 +1.96%
Congress pfp
Blake D. Moore R / House
AMZN logo
AMZN AMAZON.COM, INC.
Sale $1,001 - $15,000
Jan 24, 2024 Jan 19, 2024 +1.96%
Congress pfp
Jerry Moran R / Senate
CSCO logo
CSCO Cisco Systems, Inc. - Common Stock
Sale (Full) $1,001 - $15,000
Jan 17, 2024 Dec 14, 2023 +1.22%
Congress pfp
Jerry Moran R / Senate
AMZN logo
AMZN Amazon.com, Inc. - Common Stock
Sale (Full) $1,001 - $15,000
Jan 17, 2024 Dec 14, 2023 +5.53%
Congress pfp
Jerry Moran R / Senate
CSCO logo
CSCO Cisco Systems, Inc. - Common Stock
Sale (Full) $1,001 - $15,000
Jan 17, 2024 Dec 14, 2023 +1.22%
Congress pfp
John R. Curtis R / House
AMZN logo
AMZN AMAZON.COM, INC.
Sale $15,001 - $50,000
Dec 15, 2023 Dec 04, 2023 +3.89%
Congress pfp
Shelley Moore Capito R / Senate
CSCO logo
CSCO Cisco Systems Inc
Purchase $1,001 - $15,000
Jan 12, 2024 Dec 01, 2023 +0.33%
Congress pfp
John James R / House
CSCO logo
CSCO CISCO SYSTEMS, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Sep 02, 2024 Nov 10, 2023 -13.50%
Congress pfp
John James R / House
AMZN logo
AMZN AMAZON.COM, INC. - COMMON STOCK
Purchase $1,001 - $15,000
Sep 02, 2024 Nov 10, 2023 +0.71%
Congress pfp
Greg Stanton D / House
AMZN logo
AMZN AMAZON.COM, INC.
Sale $1,001 - $15,000
Nov 09, 2023 Oct 24, 2023 +9.93%
Congress pfp
Greg Stanton D / House
CSCO logo
CSCO CISCO SYSTEMS, INC.
Sale $1,001 - $15,000
Nov 09, 2023 Oct 24, 2023 -19.14%
Congress pfp
Markwayne Mullin R / Senate
AMZN logo
AMZN Amazon.com, Inc. - Common Stock
Purchase $1,001 - $15,000
Nov 01, 2023 Oct 03, 2023 +13.49%
Congress pfp
Robert J. Wittman R / House
AMZN logo
AMZN AMAZON.COM, INC.
Sale $1,001 - $15,000
Oct 19, 2023 Sep 28, 2023 +14.08%
Congress pfp
Greg Stanton D / House
AMZN logo
AMZN AMAZON.COM, INC.
Purchase $1,001 - $15,000
Nov 09, 2023 Sep 26, 2023 +13.81%
Congress pfp
Greg Stanton D / House
CSCO logo
CSCO CISCO SYSTEMS, INC.
Purchase $1,001 - $15,000
Nov 09, 2023 Sep 26, 2023 -17.42%
Congress pfp
Markwayne Mullin R / Senate
AMZN logo
AMZN Amazon.com Inc
Purchase $50,001 - $100,000
Oct 12, 2023 Sep 13, 2023 +1.24%
Congress pfp
Scott Franklin R / House
CSCO logo
CSCO CISCO SYSTEMS, INC.
Sale $50,001 - $100,000
Oct 12, 2023 Sep 11, 2023 -19.33%
Congress pfp
Dan Sullivan R / Senate
AMZN logo
AMZN Amazon.com, Inc. - Common Stock
Sale (Full) $1,001 - $15,000
Sep 18, 2023 Aug 22, 2023 +8.38%
Congress pfp
Michael C. Burgess R / House
AMZN logo
AMZN AMAZON.COM, INC.
Sale $15,001 - $50,000
Sep 06, 2023 Aug 14, 2023 +5.26%
Congress pfp
Michael Guest R / House
AMZN logo
AMZN AMAZON.COM, INC.
Purchase $1,001 - $15,000
Aug 23, 2023 Aug 07, 2023 +4.51%
Congress pfp
Michael C. Burgess R / House
AMZN logo
AMZN AMAZON.COM, INC.
Purchase $15,001 - $50,000
Jul 18, 2023 Jul 06, 2023 +14.65%
Congress pfp
Michael C. Burgess R / House
AMZN logo
AMZN AMAZON.COM, INC.
Sale $1,001 - $15,000
Jul 18, 2023 Jul 06, 2023 +14.65%
Congress pfp
Zoe Lofgren D / House
AMZN logo
AMZN AMAZON.COM, INC.
Sale $1,001 - $15,000
Jun 06, 2023 May 26, 2023 +18.31%
Congress pfp
Zoe Lofgren D / House
CSCO logo
CSCO CISCO SYSTEMS, INC.
Sale $1,001 - $15,000
Jun 06, 2023 May 26, 2023 -13.57%
Congress pfp
Zoe Lofgren D / House
CSCO logo
CSCO CISCO SYSTEMS, INC.
Sale $1,001 - $15,000
Jun 06, 2023 May 25, 2023 -13.31%
Congress pfp
John W. Hickenlooper D / Senate
AMZN logo
AMZN Amazon.com, Inc. - Common Stock
Sale (Full) $15,001 - $50,000
May 15, 2023 Apr 28, 2023 +37.03%
Congress pfp
Robert J. Wittman R / House
CSCO logo
CSCO CISCO SYSTEMS, INC.
Sale $1,001 - $15,000
May 07, 2023 Apr 20, 2023 -8.18%