House Bill 5011
116th Congress(2019-2020)
Opportunity Zone Accountability and Transparency Act
Introduced
Introduced in House on Nov 8, 2019
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
5011
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No House votes have been held for this bill.
Summary
Opportunity Zone Accountability and Transparency Act
This bill requires a qualified opportunity fund to file an annual return containing certain information, including (1) the name, address, and tax identification number of the fund; (2) certification that the purpose of the fund is investment in qualified opportunity zone property, and (3) the total assets held by the fund in the reporting period. The return must also provide similar information for opportunity zone corporations and partnerships and real property used in an opportunity zone business. The bill provides for a penalty for the failure of a fund to file a correct information return.
November 8, 2019
11/08/2019
Referred to the House Committee on Ways and Means.
11/08/2019
Introduced in House
Public Record
Record Updated
Nov 1, 2022 5:02:34 AM