Increasing Opportunity For Reindustrialization Act
Latest action (30 Jul 2026): Introduced
What this bill does
H.R. 10006, the Increasing Opportunity For Reindustrialization Act, would amend the Internal Revenue Code's Opportunity Zone program. Currently, a census tract generally must meet certain low-income or income-level criteria to be designated a "qualified opportunity zone," a status that provides tax incentives for investment. This bill would allow a census tract containing any part of a former Department of Defense installation closed under a base realignment and closure (BRAC) round to be eligible for designation, even if it does not otherwise meet the low-income requirements. Such tracts would not count toward existing statutory caps on the number of opportunity zones a state may designate, effectively allowing additional zones beyond current limits.
The change would primarily affect communities near closed military bases, potentially making them eligible for opportunity zone tax benefits aimed at encouraging private investment, even where local demographics would not otherwise qualify. It could also affect investors and developers seeking opportunity zone tax advantages in these areas.
The bill was introduced on July 30, 2026, by Rep. Gregory Steube with a cosponsor, and referred to the House Committee on Ways and Means. It has not yet received a committee vote or floor action, and would need to pass the House, the Senate, and be signed by the President before taking effect.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
This bill is in the first stage of the legislative process. It was introduced into Congress on July 30, 2026. It will typically be considered by committee next before it is possibly sent on to the House or Senate as a whole.
Common questions
- What does H.R. 10006 do?
- H.R. 10006, the Increasing Opportunity For Reindustrialization Act, would amend the Internal Revenue Code's Opportunity Zone program. Currently, a census tract generally must meet certain low-income or income-level criteria to be designated a "qualified opportunity zone," a status that provides tax incentives for investment. This bill would allow a census tract containing any part of a former Department of Defense installation closed under a base realignment and closure (BRAC) round to be eligible for designation, even if it does not otherwise meet the low-income requirements. Such tracts would not count toward existing statutory caps on the number of opportunity zones a state may designate, effectively allowing additional zones beyond current limits. The change would primarily affect communities near closed military bases, potentially making them eligible for opportunity zone tax benefits aimed at encouraging private investment, even where local demographics would not otherwise qualify. It could also affect investors and developers seeking opportunity zone tax advantages in these areas. The bill was introduced on July 30, 2026, by Rep. Gregory Steube with a cosponsor, and referred to the House Committee on Ways and Means. It has not yet received a committee vote or floor action, and would need to pass the House, the Senate, and be signed by the President before taking effect.
- Has H.R. 10006 become law?
- Not yet. As of 30 Jul 2026, H.R. 10006 is introduced.
- Who sponsored H.R. 10006?
- H.R. 10006 was sponsored by Rep. Gregory Steube [R-FL17] (Republican-FL), with 2 cosponsors.
- What's the latest action on H.R. 10006?
- Introduced (30 Jul 2026).
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