,i  #aag? ,,congress  #a/ ,session  ,h4 
,r4 #dfjh  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,july #ba1 #bjba,mrs4 
,/eel 7= h]self1 ,ms4 ,salaz>1 ,mr4     
,ow5s1 & ,mr4 ,gim5ez7 introduc$ !      
foll[+ bill2 :i* 0 ref]r$ to !          
,committee on ,ways & ,means  ,a ,,bill 
,to am5d ! ,int]nal ,rev5ue ,code (     
#aihf to provide = designation (        
qualifi$ opportunity zones e #aj ye>s4  
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,gr[? & ,opportunities ,act ( #bjba4  
#b4 ,designation ( qualifi$ opportunity 
zones e #aj ye>s  7a7 ,9 g5]al ,section 
#adjj,z-#a ( ! ,int]nal ,rev5ue ,code ( 
#aihf is am5d$ by add+ at ! end ! foll[+
 new subsection3  7g7 ,designation (    
zones e #aj ye>s  7#a7 ,second r\nd (   
designations ,concurr5tly ) !           
application ( ! provisions ( ?is section
 )\t reg>d to ?is subsection1 z (       
,janu>y #a1 #bjbg1 ! provisions ( ?is   
section %all be reappli$-- 7,a7 z ?\gh  
su* provisions 7 enact$ on su* date1 &  
7,b7 by sub/itut+ su* date =-- 7i7 !    

date ( ! enactm5t ( ,public ,law #aae-ig
 9 subsection 7b77#c71 &  7ii7 ! date ( 
! enactm5t ( ! ,tax ,cuts & ,jobs ,act 9
 subsection 7c77#b77;,b74  7#b7         
,subsequ5t r\nds ( designations         
,p>agraph 7#a7 %all be reappli$ z ( !   
fir/ date t no designation ( a qualifi$ 
opportunity zone f ! prec$+ r\nd (      
designations rema9s 9 effect by reason (
 ! application ( subsection 7f7 to su*  
r\nd ( designations4  7#c7              
,r$esignations p]mitt$ ,no?+ 9 ?is      
subsection %all be con/ru$ to prev5t !  
designation ( a tract z a qualifi$      
opportunity zone m]ely because su* tract
 0 previ\sly designat$ z su* a zone if  
su* tract o!rwise meets ! requirem5ts = 
su* designation z ( ! "t ( su* subsequ5t
 designation4  4  7b7 ,application rules
 = inve/m5t 9 opportunity zones ,section
 #adjj,z-#b ( su* ,code is am5d$ by add+
 at ! end ! foll[+ new subsection3  7g7 
,application = ga9s 9 subsequ5t r\nds ( 
designations  7#a7 ,9 g5]al ,9 ! case ( 
ga9 f ! sale or ex*ange ( prop]ty aft]  

,decemb] #ca1 #bjbf-- 7,a7 ! taxpay] may
 make an election "u subsection 7a7 )   
respect to su* sale or ex*ange1 &  7,b7 
subsections 7a77#b77;,b7 & 7b77#a77;,b7 
%all be appli$ by sub/itut+ ! applicable
 date = ,decemb] #ca1 #bjbf4  7#b7      
,applicable date ,= purposes ( p>agraph 
7#a71 ! applicable date ) respect to any
 sale or ex*ange %all be-- 7,a7 ,decemb]
 #ca1 #bjcd1 or  7,b7 9 ! case ( any    
sale or ex*ange aft] ! mo/ rec5tly pa/  
date det]m9$ "u ?is p>agraph1 ! ,decemb]
 #ca ( ! sev5? ye> beg9n+ aft] ea*      
in/ance p>agraph 7#a7 ( section         
#adjj,z-#a7;g7 is reappli$ by reason (  
p>agraph 7#b7 !re(4  4  7c7 ,effective  
date ,! am5dm5t made by ?is section %all
 take effect on ! date ( ! enactm5t (   
?is ,act4