HB 2727
Allows subtraction from federal taxable income of gain from sale of opportunity zone property, defined as property in low-income census tract developed for affordable housing and held for stated period of time.
| Status | In House Committee (HHS) |
| Session | 2019 Regular Session |
| Sponsors | Paul Evans (Democrat) (Chief) |
| Fiscal impact | May have fiscal impact, but no statement yet issued |
| Revenue impact | May have revenue impact, but no statement yet issued |
Bill Text
Allows subtraction from federal taxable income of gains from the sale of opportunity zone property developed for affordable housing held for a specified period.
Sponsors#
Chief Sponsors: Paul Evans
Overview#
Allows subtraction from federal taxable income of gain from sale of opportunity zone property, defined as property in low-income census tract developed for affordable housing and held for stated period of time. Applies to tax years beginning on or after January 1, 2019. Takes effect on 91st day following adjournment sine die.
Legislative History
| Date | Chamber | Action |
|---|---|---|
| 2019-01-22 | H | First reading. Referred to Speaker's desk. |
| 2019-01-28 | H | Referred to Human Services and Housing with subsequent referral to Revenue. |
| 2019-06-30 | H | In committee upon adjournment. |