Senator Mulls Bill Giving States A Mulligan On Choosing Opportunity Zones Read more at: https://www.bisnow.com/national/news/opportunity-zones/sen-tim-scott-new-bill-opportunity-zones-do-over-102760?utm_source=CopyShare&utm_medium=Browser
One of the opportunity zone bill’s original sponsors is coming around to revising the program.
Sen. Tim Scott (R-SC) said at the United States Conference of Mayors on Wednesday that he is considering a bill that would allow local and state governments to revisit a small percentage of the census tracts that were, or were not, designated opportunity zones in 2018, Bloomberg Tax reports.
Scott said he is in discussions with Sen. Cory Booker (D-NJ), his fellow co-sponsor on the original legislation, and the Senate Finance Committee’s ranking Democrat, Ron Wyden (D-OR), on a new bill.
Though Scott has defended the opportunity zone program to critics, he has also been outspoken about guarding against abuse. Speaking at a Bisnow event last summer, Scott claimed that he would “kill the program” if he decided it wasn’t being used according to its original intent.
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