[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7183 Introduced in House (IH)]
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117th CONGRESS
2d Session
H. R. 7183
To amend the Internal Revenue Code of 1986 to provide a special rule
for designating former industrial tracts contiguous to designated
opportunity zones, and for other purposes.
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IN THE HOUSE OF REPRESENTATIVES
March 21, 2022
Mr. Kildee (for himself and Mr. Ruppersberger) introduced the following
bill; which was referred to the Committee on Ways and Means
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A BILL
To amend the Internal Revenue Code of 1986 to provide a special rule
for designating former industrial tracts contiguous to designated
opportunity zones, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Rust to Revitalization Act of
2022''.
SEC. 2. CERTAIN FORMER INDUSTRIAL TRACTS DESIGNATED AS OPPORTUNITY
ZONES.
(a) In General.--Section 1400Z-1(b) of the Internal Revenue Code of
1986 is amended by adding at the end the following new paragraph:
``(4) Special rule for former industrial tracts contiguous
to designated opportunity zones.--
``(A) In general.--Each population census tract
described in subparagraph (B) shall be deemed to be
certified and designated as a qualified opportunity
zone, effective on the date of the enactment of this
paragraph.
``(B) Population census tract described.--A
population census tract is described in this
subparagraph if--
``(i) the tract--
``(I) has a population of zero,
``(II) was previously used for
industrial purposes and is a brownfield
industrial site, and
``(III) is contiguous, including by
water, to a population census tract
that has been designated as a qualified
opportunity zone under this section, or
``(ii) the tract was merged, as a result of
the 2020 decennial census, into a census tract
described in clause (i)(III) and met all
requirements described in subclause (i) prior
to such merger.
``(C) Determination of census tract information.--
For purposes of this paragraph, the boundaries and
population of a census tract shall be determined based
on United States Census Bureau data for the 2010
decennial census.
``(D) Notification.--The Secretary shall notify in
writing the chief executive officer of the State in
which a population census tract is certified and
designated as a qualified opportunity zone under this
paragraph of such designation.
``(E) Number of designations.--Population census
tracts certified and designated as a qualified
opportunity zone under this paragraph shall not be
taken into account for purposes of subsection (d).
``(F) Definitions.--For purposes of this
paragraph--
``(i) Brownfield industrial site.--The term
`brownfield industrial site' means a census
tract that includes real property the
expansion, redevelopment, or reuse of which may
be complicated by the presence or potential
presence of a hazardous substance or pollutant
or contaminant, including real property covered
by a prospective purchaser agreement or similar
agreement entered into by the Environmental
Protection Agency or the appropriate State
authority.
``(ii) Hazardous substance.--The term
`hazardous substance' means--
``(I) a hazardous substance as
defined in section 101(14) of the
Comprehensive Environmental Response,
Compensation, and Liability Act of 1980
(42 U.S.C 9601(14)), or
``(II) petroleum or a petroleum
product.
``(iii) Pollutant or contaminant.--The term
`pollutant or contaminant' has the meaning
given such term in section 101(33) of such
Act.''.
(b) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after the date of the enactment of
this Act.
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