Reps. Kind, Mike Kelly, and Sewell Introduce Bill to Increase Transparency and Enforceability of Opportunity Zones
La Crosse, WI—Today, Reps. Ron Kind (D-WI), Mike Kelly (R-PA), and Terri Sewell (D-AL) introduced the bipartisan Opportunity Zone Accountability and Transparency Act, which implements mandatory reporting requirements, institutes penalties for not following these requirements, and makes these reports available to the public.
“Opportunity Zones were created to bring capital to communities in rural and underserved areas, but in order to ensure that this program is used as it was intended, we need strong transparency and accountability measures in place,” said Rep. Ron Kind. “I’m proud to be working with colleagues on both sides of the aisle to introduce this important legislation that will help provide Congress with information that will further improve the program in the future. Communities in Wisconsin are counting on the integrity of this program to make sure that capital and opportunity for economic growth are spread throughout the country.”
“I’ve personally seen what opportunity zones can do for distressed communities. I represent Erie, Pennsylvania, which contains America’s poorest zip code: 16501. Erie is leading the nation and demonstrating real success in using these zones to revitalize areas in desperate need of investment,” said Rep. Mike Kelly. “The opportunity zone program is creating hope and improving economies throughout America, but it’s our job to conduct oversight and ensure the zones work as intended everywhere. I am a proud co-author of this bipartisan bill to provide accountability to a program that is building a better future for so many Americans.”
“Opportunity Zones present a unique opportunity for increased investment and economic opportunity for workers and families across Alabama, but it is critical we have the tools to determine the real-world impacts of the program,” said Rep. Terri Sewell. “The reporting requirements included in this legislation will provide the data necessary for legislators and the American people to evaluate how these tax-advantaged funds are being deployed and whether they are fulfilling the mission of uplifting historically underserved communities.”
Read the bill text here.