House Legislation Reintroduced to Extend Deferral Date, Add Reporting Requirements for OZs

Thursday, September 28, 2023 - 10:15AM

Rep. Mike Kelly, R-Pennsylvania, and a bipartisan group of three co-sponsors Wednesday introduced the Opportunity Zones Transparency, Extension and Improvement Act (H. 5761). Text for the bill was not immediately available, but it’s expected to be similar to legislation introduced last year in the House and Senate–extending the deferral date for opportunity zones (OZ) investment from the end of 2026 to the end of 2028, expanding reporting requirements, allowing “funds of funds” to invest in other qualified opportunity funds (QOFs) and more.

Extension and reporting legislation, guidance and more will be discussed at the Novogradac 2023 Fall Opportunity Zones Summit, Nov. 1 in Washington, D.C.

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