To amend the Internal Revenue Code of 1986 to renew and enhance opportunity zones, and for other purposes.

# Summary of HR 3687: Opportunity Zones Renewal and Enhancement Act **What the Bill Does:** This bill would modify federal tax laws related to "opportunity zones"—economically distressed areas where investors receive tax breaks when they invest capital gains into designated communities. The bill aims to renew and expand these tax incentives beyond their current expiration dates and potentially enhance the program's benefits. **Who It Affects:** The legislation would primarily benefit investors with capital gains (profitable investments), businesses and developers operating in designated low-income areas, and residents of economically struggling communities. Opportunity zones currently exist in all 50 states and U.S. territories, so the effects could be geographically widespread. **Current Status:** HR 3687 is currently in committee, meaning it has been referred to the appropriate House committee for review and debate but has not yet been brought to a full House vote.

The bill was sponsored by Rep. Mike Kelly (R-PA). The specific provisions for renewal and enhancement are not detailed in the available information, so the exact scope of changes is unclear at this stage.