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S. 4606119th CongressIn committeeLatest action May 20, 2026Decoded by AI · checked against the record
Official title: Increasing Opportunity For Reindustrialization Act
Introduced:
Read the official bill on Congress.govThe plain-language version leads. The official text is always the reference.
S 4606 lets closed military base communities qualify for Opportunity Zone tax breaks without counting against state zone caps.
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S 4606 would expand the Opportunity Zones program to include areas where military bases were closed through the official base realignment and closure process, even if those areas do not meet the program's existing low-income requirements. Former military base sites would also be exempt from the cap that limits how many Opportunity Zones each state can designate, meaning states could add them on top of their current allowance.
Residents and local governments in communities that lost a military base through the base realignment and closure process are most directly affected. Investors, real estate developers, and businesses considering activity in those areas would also be affected, as would states administering their Opportunity Zone designations.
Communities that lose a military base typically also lose associated jobs and economic activity. Extending Opportunity Zone eligibility to these areas could change where private investment flows and how former base properties are redeveloped.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: a Senate committee is reviewing it. If the House changes it, it goes back to the Senate before reaching the President.
Latest action: — Read twice and referred to the Committee on Finance.