Economic Opportunity for Distressed Communities Act

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 9203 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 9203 To amend the Internal Revenue Code of 1986 to establish special rules for capital gains invested in brownfield and superfund sites. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES July 30, 2024 Mr. Edwards (for himself and Mr. Nickel) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to establish special rules for capital gains invested in brownfield and superfund sites. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Economic Opportunity for Distressed Communities Act''. SEC. 2. ESTABLISHMENT OF SPECIAL RULES FOR CAPITAL GAINS INVESTED IN DISTRESSED OPPORTUNITY ZONES. (a) In General.--Subchapter Z of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the followin…