,i #aai? ,,congress #b;d ,session ,h4 ,r4 #iiaa ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,july #bc1 #bjbf,mr4 ,kelly ( ,p5nsylvania 7= himself & ,mr4 ,moran7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to all[ m>itime prosp]ity zones to be designat$ z qualifi$ opportunity zones1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,%ipbuild+ ,inve/m5t & ,work=ce ,act4 #b4 ,m>itime prosp]ity zones designat$ z qualifi$ opportunity zones 7a7 ,9 g5]al ,section #adjj,z-#a ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new subsection3 7f7 ,m>itime prosp]ity zones 7#a7 ,9 g5]al ,not)/&+ any o!r provision ( ?is section1 a population c5sus tract t is a m>itime prosp]ity zone t is designat$ z a qualifi$ opportunity zone "u p>agraph 7#b7 %all be treat$ z a qualifi$ opportunity zone = purposes ( ?is sub*apt]4 7#b7 ,designation ,= purposes ( p>agraph 7#a71 a population c5sus tract t is a m>itime prosp]ity zone is designat$ z a qualifi$ opportunity zone if-- 7,a7 ! ,secret>y ( ,comm]ce-- 7i7 9 consultation ) ! appropriate (ficials1 nom9ates ! tract = designation z a qualifi$ opportunity zone1 & 7ii7 notifies ! ,secret>y 9 writ+ ( su* nom9ation1 & 7,b7 ! ,secret>y c]tifies su* nom9ation & designates su* tract z a qualifi$ opportunity zone4 7#c7 ,def9itions ,= purposes ( ?is subsection-- 7,a7 ,m>itime prosp]ity zone ,! t]m m>itime prosp]ity zone means a population c5sus tract t is det]m9$ by ! ,secret>y ( ,comm]ce1 9 consultation ) ! appropriate (ficials1 to be an appropriate site = ! op]ation ( a m>itime indu/ry4 7,b7 ,appropriate (ficials ,! t]m appropriate (ficials means-- 7i7 ! ,secret>y ( ,def5se1 7ii7 ! ,secret>y ( ! ,navy1 7iii7 ! ,secret>y ( ,transportation1 7iv7 ! ,unit$ ,/ates ,trade ,repres5tative1 & 7v7 ! ,director ( ! ,(fice ( ,managem5t & ,budget4 7#d7 ,special rules 7,a7 ,treatm5t ( prop]ty & trade or bus9ess ) respect to m>itime prosp]ity zones 7i7 ,9 g5]al ,= purposes ( ?is sub*apt]1 9 ! case ( a population c5sus tract :i* is designat$ z a qualifi$ opportunity zone solely by reason ( p>agraph 7#b7-- 7,i7 prop]ty %all n be treat$ z qualifi$ opportunity zone bus9ess prop]ty 7z def9$ 9 section #adjj,z-#b7;d77#b77;,d77 ) respect to su* qualifi$ opportunity zone unless sub/antially all ( ! use ( su* prop]ty1 dur+ sub/antially all ( ! hold+ p]iod = su* prop]ty1 is 9 connection ) a m>itime indu/ry1 & 7,,ii7 a trade or bus9ess %all n be treat$ z a qualifi$ opportunity zone bus9ess 7z def9$ 9 section #adjj,z-#b7;d77#c77 ) respect to su* qualifi$ opportunity zone unless sub/antially all ( ! op]ation ( su* trade or bus9ess is 9 connection ) a m>itime indu/ry4 7ii7 ,m>itime indu/ry ,= purposes ( ?is subsection-- 7,i7 ,9 g5]al ,! t]m m>itime indu/ry means any indu/ry :i* is det]m9$ by ! ,secret>y to support1 directly or indirectly1 ! con/ruction1 recon/ruction1 repair1 rehabilitation1 or refurbi%m5t ( %ipy>ds1 ports1 h>bor facilities1 or vessels4 7,,ii7 ,c]ta9 indu/ries includ$ ,except z o!rwise provid$ by ! ,secret>y1 any indu/ry assign$ "o ( ! foll[+ codes "u ! #bjbb ,nor? ,am]ican ,indu/ry ,classification ,sy/em %all be treat$ z a m>itime indu/ry3 7aa7 #ccb 7,fabricat$ ,metal ,product ,manufactur+74 7bb7 #ccff 7,%ip & ,boat ,build+74 7cc7 #ccffaa 7,%ip ,build+ & ,repair+74 7dd7 #cccibc 7,ov]head ,travel+ ,crane1 ,hoi/1 & ,monorail ,sy/em ,manufactur+74 7ee7 #ccdeaa 7,se>*1 ,detection1 ,navigation1 ,guidance1 ,a]onautical1 & ,nautical ,sy/em & ,in/rum5t ,manufactur+74 7ff7 #dhhc 7,support ,activities = ,wat] ,transportation74 7gg7 #dhcaaa 7,deep ,sea ,freight ,transportation74 7hh7 #dhcaac 7,coa/al & ,great ,lakes ,freight ,transportation74 7ii7 #dhcbaa 7,inl& ,wat] ,freight ,transportation74 7jj7 #edaccj 7,eng9e]+ ,s]vices74 7,b7 ,limitations 7i7 ,9 g5]al ,! numb] ( population c5sus tracts t are m>itime prosp]ity zones t may be designat$ z qualifi$ opportunity zones "u p>agraph 7#b7 at any "t may n exce$ #ajj4 7ii7 ,limitation on numb] ( l[-income community designations un*ang$ ,a population c5sus tract t is a m>itime prosp]ity zone t is designat$ z a qualifi$ opportunity zone "u p>agraph 7#b7 %all n be tak5 into acc\nt 9 det]m9+ ! limitation "u subsection 7d74 4 7b7 ,basis increase = inve/m5ts 9 qualifi$ m>itime prosp]ity funds ,section #adjj,z-#b7;b77#b7 ( su* ,code 7z am5d$ by section #gjdba7;c77#b7 ( ,public ,law #aai-ba7 is am5d$-- 7#a7 9 subp>agraph 7,b77iii77,i71 by ins]t+ or a qualifi$ m>itime prosp]ity fund aft] qualifi$ rural opportunity fund1 & 7#b7 by add+ at ! end ! foll[+ new subp>agraph3 7,d7 ,qualifi$ m>itime prosp]ity fund ,= purposes ( subp>agraph 7,b77iii71 ! t]m qualifi$ m>itime prosp]ity fund has ! same mean+ giv5 ! t]m qualifi$ rural opportunity fund1 det]m9$ by sub/itut+ m>itime prosp]ity zone 7z def9$ 9 section #adjj,z-#a7;f77#c77;,a77 = qualifi$ opportunity zone compris$ entirely ( a rural area ea* place x appe>s4 4 7c7 ,con=m+ am5dm5ts 7#a7 ,section #adjj,z-#a7;d77#a7 ( su* ,code is am5d$ by /rik+ "u ?is section & ins]t+ "u subsection 7b74 7#b7 ,section #adjj,z-#a7;e77#b7 ( su* ,code is am5d$-- 7,a7 by /rik+ "u ?is section & ins]t+ "u subsection 7b7 or 7f77#b71 & 7,b7 by /rik+ subsection 7b77#a77;,b7 & ins]t+ subsection 7b77#a77;,b7 or 7f77#b77;,b7 7z ! case may be74 7d7 ,effective date ,! am5dm5ts made by ?is section %all take effect beg9n+ aft] ,decemb] #ca1 #bjbf4 7e7 ,deadl9e ,to beg9 nom9ation & notification process ,n lat] ?an ,july #a1 #bjbg1 ! ,secret>y ( ,comm]ce %all beg9 ! nom9ation & notification process ref]r$ to 9 clauses 7i7 & 7ii7 ( section #adjj,z-#a7;f77#b77;,a7 ( ! ,int]nal ,rev5ue ,code ( #aihf 7z add$ by subsection 7a774