A bill introduced by Rep. Sheila Cherfilus-McCormick in the U.S. House would lengthen opportunity zone designations and alter investment and rental parameters, the U.S. Congress reports.
H.R.7820, submitted March 5, 2026, during the 119th Congress’s 2026 regular session, is summarized below based on the legislative text, with clarifying details as needed.
This bill updates investment regulations for qualified opportunity funds per the Internal Revenue Code of 1986. The proposal extends qualified opportunity zone status from the 10th to the 20th calendar year and moves the election period deadline from December 31, 2026, to December 31, 2036. It also modifies the year of gain inclusion based on investment timing and introduces specific income and rent requirements for residential rental projects to qualify as opportunity zone property. These standards address tenant income restrictions, annual rent cap policies, and mandatory advance notification for rent changes. The changes would take effect immediately upon passage, and zone designation provisions would apply to all current zones.
Rep. Sheila Cherfilus-McCormick (D-Fla.-20th District) is the sole sponsor of this legislation.
In the current congressional session, Rep. Cherfilus-McCormick has put forward 11 other bills.
Bills in Congress may originate in either the House of Representatives or the Senate, except for those concerning revenue, which must start in the House. After a bill is introduced, it is referred to committees for review, public hearings, amendments, and debate before each chamber may vote. If both chambers pass matching measures, the bill goes to the president, who can sign it into law or issue a veto. Congress operates in two-year increments, with numbered terms and annual sessions. The U.S. Congress maintains all official legislative records through Congress.gov.
Sheila Cherfilus-McCormick represents Florida as a Democrat. She joined the One Hundred Seventeenth Congress following a special election after the passing of Alcee Lamar Hastings. Cherfilus-McCormick earned a B.A. from Howard University in 2001, a J.D. from St. Thomas University School of Law in 2010, and attended the University of Maryland Global Campus from 2005 to 2007.
| Bill Number | Date Introduced | Short Description |
|---|---|---|
| H.R.7820 | 03/05/2026 | To amend the Internal Revenue Code of 1986 to modify the rules for investments in qualified opportunity funds, and for other purposes. |
| H.R.6564 | 12/10/2025 | Historically Underserved Veterans Inclusion Act of 2025 |
| H.R.5676 | 10/03/2025 | Stop Stealing Our Jobs Act |
| H.R.5110 | 09/03/2025 | Federal Disaster Housing Stability Act of 2025 |
| H.R.4586 | 07/22/2025 | AIDA |
| H.R.3752 | 06/05/2025 | Specialist Fourth Class Keith Smith Glioblastoma Parity Act of 2025 |
| H.R.3489 | 05/19/2025 | Department of Veterans Affairs Medical Physicist Pay Cap Relief Act |
| H.R.2927 | 04/17/2025 | All-Americans Tax Relief Act of 2025 |
| H.R.2826 | 04/10/2025 | CAST Act |
| H.R.2494 | 03/31/2025 | To direct the Secretary of Housing and Urban Development to annually submit to the Congress a report that analyzes State and local strategies, activities, and plans that promote affordable housing, and for other purposes. |
| H.R.1597 | 02/26/2025 | Compassion for Vulnerable and Struggling Workers Act |
| H.R.1114 | 02/07/2025 | L’Ouverture Economic Development Plan for Haiti Act of 2025 |
Report information was sourced from the U.S. Congress. The underlying data is available here.
