,,ii  #aaith ,,congress  #b;d ,session  
,s4 #dfjf  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,may #bj1      
#bjbf,mr4 ,mc,cormick 7for himself and  
,mr4 ,schatz7 introduced the following  
bill2 which was read twice and referred 
to the ,committee on ,finance  ,a ,,bill
  ,to amend the ,internal ,revenue ,code
 of #aihf to permit certain population  
census tracts containing former military
 installations to be designated as      
qualified opportunity zones4  #a4 ,short
 title ,this ,act may be cited as the   
,increasing ,opportunity ,for           
,reindustrialization ,act4  #b4 ,certain
 areas containing former military       
installations eligible for designation  
as qualified opportunity zones  7a7 ,in 
general ,section #adjj,z-#a7;c77#a7 of  
the ,internal ,revenue ,code of #aihf is
 amended-- 7#a7 by striking or at the   
end of subparagraph 7,a77ii71  7#b7 by  
striking the period at the end of       
subparagraph 7,b77ii77,,ii71 and  7#c7  
by adding at the end the following new  

subparagraph3  7,c7 such population     
census tract contains any portion of a  
former installation1 facility1 or entity
 of the ,department of ,defense closed  
pursuant to a base realignment and      
closure round4  4  7b7 ,designations    
exempted from limitation ,section       
#adjj,z-#a7;d7 of the ,internal ,revenue
 ,code of #aihf is amended by adding at 
the end the following new subparagraph3 
7#c7 ,special rule for population census
 tracts containing former military      
installations ,for purposes of applying 
paragraphs 7#a7 and 7#b7-- 7,a7 a       
population census tract which is        
described in subsection 7c77#a77;,c7 and
 which does not meet the requirements of
 subparagraph 7,a7 or 7,b7 of subsection
 7c77#a7 shall not be treated as a      
low-income community1 and  7,b7 the     
number of population census tracts in a 
,state that may be designated as        
qualified opportunity zones under this  
section during any period 7determined   
after application of paragraphs 7#a7 and

 7#b77 shall be increased by the number 
of population census tracts described in
 subsection 7c77#a77;,c7 and nominated  
for designation as qualified opportunity
 zones during such period4  4  7c7      
,effective date ,the amendments made by 
this subsection shall apply to areas    
designated under section #adjj,z-#a of  
the ,internal ,revenue ,code of #aihf   
after the date of the enactment of this 
,act4