Meadows Introduces Two Bills to Expand Opportunity Zones

Representative Mark Meadows (R-NC) introduced two bills that would expand the Opportunity Zone (OZ) tax incentive. H.R. 1851 would allow states and territories to designate new OZs, with the Treasury Department’s approval, every 10 years. The current legislation allows only an initial 10-year designation of OZs. H.R. 1852 would permit federally declared disaster areas to be added as OZs; Meadows introduced a similar bill in the last Congress. Both H.R. 1851 and H.R. 1852 have been assigned to the House Ways and Means Committee.