,i  #aagth ,,congress  #ast ,session    
,h4 ,r4 #dfjh  ,,in ,,the ,,house ,,of  
,,representatives  ,july #ba1 #bjba,mrs4
 ,steel 7for herself1 ,ms4 ,salazar1    
,mr4 ,owens1 and ,mr4 ,gimenez7         
introduced the following bill2 which was
 referred to the ,committee on ,ways and
 ,means  ,a ,,bill  ,to amend the       
,internal ,revenue ,code of #aihf to    
provide for designation of qualified    
opportunity zones every #aj years4  #a4 
,short title ,this ,act may be cited as 
the ,growth and ,opportunities ,act of  
#bjba4  #b4 ,designation of qualified   
opportunity zones every #aj years  7a7  
,in general ,section #adjj,z-#a of the  
,internal ,revenue ,code of #aihf is    
amended by adding at the end the        
following new subsection3  7g7          
,designation of zones every #aj years   
7#a7 ,second round of designations      
,concurrently with the application of   
the provisions of this section without  
regard to this subsection1 as of        
,january #a1 #bjbg1 the provisions of   

this section shall be reapplied-- 7,a7  
as though such provisions were enacted  
on such date1 and  7,b7 by substituting 
such date for-- 7i7 the date of the     
enactment of ,public ,law #aae-ig in    
subsection 7b77#c71 and  7ii7 the date  
of the enactment of the ,tax ,cuts and  
,jobs ,act in subsection 7c77#b77;,b74  
7#b7 ,subsequent rounds of designations 
,paragraph 7#a7 shall be reapplied as of
 the first date that no designation of a
 qualified opportunity zone from the    
preceding round of designations remains 
in effect by reason of the application  
of subsection 7f7 to such round of      
designations4  7#c7 ,redesignations     
permitted ,nothing in this subsection   
shall be construed to prevent the       
designation of a tract as a qualified   
opportunity zone merely because such    
tract was previously designated as such 
a zone if such tract otherwise meets the
 requirements for such designation as of
 the time of such subsequent            
designation4  4  7b7 ,application rules 

for investment in opportunity zones     
,section #adjj,z-#b of such ,code is    
amended by adding at the end the        
following new subsection3  7g7          
,application for gains in subsequent    
rounds of designations  7#a7 ,in general
 ,in the case of gain from the sale or  
exchange of property after ,december    
#ca1 #bjbf-- 7,a7 the taxpayer may make 
an election under subsection 7a7 with   
respect to such sale or exchange1 and   
7,b7 subsections 7a77#b77;,b7 and       
7b77#a77;,b7 shall be applied by        
substituting the applicable date for    
,december #ca1 #bjbf4  7#b7 ,applicable 
date ,for purposes of paragraph 7#a71   
the applicable date with respect to any 
sale or exchange shall be-- 7,a7        
,december #ca1 #bjcd1 or  7,b7 in the   
case of any sale or exchange after the  
most recently past date determined under
 this paragraph1 the ,december #ca of   
the seventh year beginning after each   
instance paragraph 7#a7 of section      
#adjj,z-#a7;g7 is reapplied by reason of

 paragraph 7#b7 thereof4  4  7c7        
,effective date ,the amendment made by  
this section shall take effect on the   
date of the enactment of this ,act4