Bill · S. 4606· Senate(119-S-4606)
Increasing Opportunity For Reindustrialization Act
- Introduced
- 5/20/2026
- Last activity
- 5/20/2026 — Read twice and referred to the Committee on Finance.
- Sponsored by
- David McCormick
- Cosponsors
- - 0 - 2
- Introduced
- In Committee
What this bill would do
This bill, titled the "Increasing Opportunity For Reindustrialization Act," seeks to amend the Internal Revenue Code of 1986. It aims to allow certain population census tracts that contain parts of former Department of Defense installations or facilities closed through a base realignment and closure round to be designated as qualified opportunity zones. The legislation changes how these areas are treated regarding income requirements and the number of available designations within a state. These changes would take effect for areas designated after the bill is enacted.
Yes· 3 of 9
Does this cut the tax on profits from selling investments?+5
The bill expands the eligibility for qualified opportunity zone benefits which provide capital gains tax advantages for investments in these specific areas.
Would business owners be better off under this?+4
The bill provides more opportunities for business owners to utilize qualified opportunity zone tax advantages in specific locations.
Is this likely to create jobs?+3
By incentivizing investment in former military installation areas through opportunity zones, the bill may encourage local economic development and job creation.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Expanded Opportunity Zone Eligibility: Census tracts containing portions of a former Department of Defense installation, facility, or entity closed via a base realignment and closure round can now be designated as qualified opportunity zones (Section 2(a)).
-
Removal of Income Requirements for Specific Areas: Population census tracts containing these former military installations will not be required to meet the standard low-income community requirements to qualify (Section 2(b)(3)(A)).
-
Increased Designation Limits: The number of population census tracts in a State that can be designated as qualified opportunity zones will be increased by the number of these specific military-related tracts nominated (Section 2(b)(3)(B)).
Potential Negative Impacts for People
- No negative impacts or burdens are explicitly mentioned in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Economy And Finance
- Reduces Capital Gains Tax+5Improves Economic Growth+3Increases Job Creation+3Improves Small Business Support+2
- Demographic And Interest Groups
- Good For Business Owners+4Good For Low Income Households+2Good For Rural Residents+2
- Social Issues And Justice
- Improves Poverty Reduction+2
- National Security And Foreign Policy
- Improves Veterans Benefits+1
- 7/15/2026
- 1 Cosponsor added.
- 5/20/2026
- Read twice and referred to the Committee on Finance.
- 1 Cosponsor added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
John HickenlooperDemocrat · Colorado
Brian SchatzDemocrat · Hawaii