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Increasing Opportunity For Reindustrialization Act
To amend the Internal Revenue Code of 1986 to permit certain population census tracts containing former military installations to be designated as qualified opportunity zones.
Summary
- Amends the Internal Revenue Code to permit population census tracts containing former Department of Defense installations closed through base realignment and closure rounds to be designated as Qualified Opportunity Zones.
- Exempts census tracts containing former military installations from the requirement to meet "low-income community" criteria for Qualified Opportunity Zone designation.
- Increases the number of Qualified Opportunity Zones that each State can designate by adding the number of census tracts containing former military installations nominated for designation.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
1 cosponsor
- Rep. Thompson, Mike [D-CA-4] (D-CA)
Money behind the sponsor
Top reported contributors to W. Gregory Steube’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- CHENEY BROTHERS $7,800
- NEXTGEN MANAGEMENT $6,600
- STEPHENS, INC. $6,600
- NEPTUNE WELLNESS SOLUTIONS $6,600
- COOLTODAY $6,600
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for W. Gregory Steube → · Outside spending →
Actions (2)
- Jul 30, 2026 Referred to the House Committee on Ways and Means. · house
- Jul 30, 2026 Introduced in House
Text versions (1)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
IN THE HOUSE OF REPRESENTATIVES
July 30, 2026
Mr. Steube (for himself and Mr. Thompson of California) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to permit certain population census tracts containing former military installations to be designated as qualified opportunity zones.
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 “Increasing Opportunity For Reindustrialization Act”.
SEC. 2. CERTAIN AREAS CONTAINING FORMER MILITARY INSTALLATIONS ELIGIBLE FOR DESIGNATION AS QUALIFIED OPPORTUNITY ZONES.
(a) In General.—Section 1400Z-1(c)(1) of the Internal Revenue Code of 1986 is amended—
(1) by striking “or” at the end of subparagraph (A)(ii),
(2) by striking the period at the end of subparagraph
(B)(ii)(II), and
(3) by adding at the end the following new subparagraph:
“(C) such population census tract contains any portion of a former installation, facility, or entity of the Department of Defense closed pursuant to a base realignment and closure round.”.
(b) Designations Exempted From Limitation.—Section 1400Z-1(d) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:
“(3) Special rule for population census tracts containing former military installations.—For purposes of applying paragraphs (1) and (2)—
“(A) a population census tract which is described in subsection (c)(1)(C) and which does not meet the requirements of subparagraph (A) or (B) of subsection
(c)(1) shall not be treated as a low-income community, and
“(B) the number of population census tracts in a State that may be designated as qualified opportunity zones under this section during any period (determined after application of paragraphs (1) and (2)) shall be increased by the number of population census tracts described in subsection (c)(1)(C) and nominated for designation as qualified opportunity zones during such period.”.
(c) Effective Date.—The amendments made by this subsection shall apply to areas designated under section 1400Z-1 of the Internal Revenue Code of 1986 after the date of the enactment of this Act. <all>
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