Residential Recovery Zone Act

United States116th CongressHR-3790House of Representatives
Updated: Jul 17, 2019

Summary

Residential Recovery Zone Act This bill allows a new tax credit for the purchase of a principal residence in a residential recovery zone. The credit is equal to 10% of the purchase price of the residence, which may not exceed $1.5 million. The dollar amount of the credit is limited to $8,000 in a taxable year. The bill allows the chief executive officer (e.g., governor) of a state to designate certain population census tracts in areas related to federally declared disasters as opportunity zones. This makes investments in the areas eligible for various tax incentives.

Bill texts

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Introduced (House)View official text

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Timeline

  1. Introduced in House

  2. Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    House of Representatives

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