Increasing Opportunity For Reindustrialization Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 10006 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 10006 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. _______________________________________________________________________ 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 w