Senators Introduce Bipartisan Bill to Require Reporting on OZ Investments

Wednesday, May 8, 2019 - 12:15pm

Four U.S. senators introduced legislation this week to require the collection of information on investments in opportunity zones (OZs). According to a draft version of S. 1344, the legislation would require the Secretary of the Treasury to collect information on investments held by qualified opportunity funds (QOFs)–including the number of funds, the amount of assets, the composition of the funds by asset class, the percentage of OZs that have received QOF investments and the outcomes for key economic indicators. The bill, sponsored by Sens. Cory Booker, D-N.J., Tim Scott, R-S.C., Maggie Hassan, D-N.H., and Todd Young, R-Ind., would require a report to Congress annually beginning in 2023, the fifth year of the OZ incentive.