What does Preamble of Increasing Opportunity For Reindustrialization Act do?

This bill proposes to amend the Internal Revenue Code of 1986. The amendment would allow certain population census tracts containing former military installations to be designated as qualified opportunity zones.

What does SHORT TITLE. of Increasing Opportunity For Reindustrialization Act do?

This bill is formally titled the Increasing Opportunity For Reindustrialization Act.

What does CERTAIN AREAS CONTAINING FORMER MILITARY INSTALLATIONS ELIGIBLE of Increasing Opportunity For Reindustrialization Act do?

This section amends Section 1400Z-1 of the Internal Revenue Code of 1986 to expand the eligibility of areas for designation as Qualified Opportunity Zones. It adds a new subparagraph (C) to subsection (c)(1) allowing census tracts containing portions of former Department of Defense installations closed due to base realignment and closure rounds to be considered. It adds a new subparagraph (3) to subsection (d) creating a special rule for census tracts containing former military installations that do not meet other low-income community requirements. Under this special rule, such tracts are not treated as low-income communities and the number of qualified opportunity zones a state can designate is increased by the number of nominated tracts described in subsection (c)(1)(C). The amendments apply to areas designated under section 1400Z-1 after the enactment of this Act.

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Increasing Opportunity For Reindustrialization Act

Last updated: 5/20/2026 · Introduced: 5/20/2026

Author: David McCormick (R-PA)

TL;DR (AI)

This bill expands the criteria for designating Qualified Opportunity Zones to include census tracts containing former military installations.
It allows census tracts with former military installations to be designated as Qualified Opportunity Zones even if they do not meet standard low-income community requirements.
States can receive additional Qualified Opportunity Zone designations for census tracts containing former military installations.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

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