118th Congress · HOUSE BILLBILL

H.R. 4055 — Opportunity Zones Enhancement Act of 2023

“To amend the Internal Revenue Code of 1986 to exclude interest on loans by depository institutions to qualified opportunity zone businesses from gross income, and for other purposes.”

Taxation

Introduced Jun 13, 2023

Last action Jun 13, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jun 13, 2023

Step 2

Referred

Jun 13, 2023

Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill excludes from gross income, for income tax purposes, certain amounts of interest received by a depository institution on any loan to a qualified opportunity zone business (businesses located in economically-distressed communities that may qualify for preferential tax treatment, such as capital gains tax avoidance).

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Jun 13, 2023

Introduced in House

Jun 13, 2023

Referred to the House Committee on Ways and Means.