# 119-hr-7820: To amend the Internal Revenue Code of 1986 to modify the rules for investments in qualified opportunity funds, and for other purposes.

119-hr-7820, To amend the Internal Revenue Code of 1986 to modify the rules for investments in qualified opportunity funds, and for other purposes., is a 119th Congress bill sponsored by Rep. Cherfilus-McCormick, Sheila [D-FL-20] (D-FL); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-hr-7820
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-7820
- Congress: 119
- Title: To amend the Internal Revenue Code of 1986 to modify the rules for investments in qualified opportunity funds, and for other purposes.
- Status: introduced
- Introduced: 2026-03-05
- Sponsor: Rep. Cherfilus-McCormick, Sheila [D-FL-20] (D-FL)
- Cosponsors: 0
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Extends Opportunity Zone deadlines and adds firm rules for affordable residential projects to steer investments toward lower-income renters.** The bill would lengthen key tax windows for Qualified Opportunity Funds and require new rent, occupancy, and notice limits for projects that claim favorable tax treatment. - Families: Renters in qualified opportunity zone rental projects would face a maximum rent increase of 3% per year and must receive at least 60 days' advance notice of any rent hike. These rules aim to protect tenants in projects receiving Opportunity Zone investment. - Investors: Investors would have a longer time to invest under Opportunity Zone tax rules because the zone designation period would reach the 20th calendar year and the election period would extend through December 31, 2036. The bill also changes when gains must be included depending on whether investments occur before or after enactment. - Developers and projects: A residential project would only qualify if at least 30% of occupied units serve households at or below 100% of area median income for most of the fund's holding period. Investors get certain basis increases only if at least 50% of occupied units meet the income test when gain is recognized.

## Provisions PRIA read

- Longer Opportunity Zone designation period: benefit, high. If enacted, the bill would extend how long an area stays a qualified opportunity zone from the 10th calendar year to the 20th calendar year. This change would apply to zones already designated when the bill is enacted. If enacted, the tax incentives tied to those zone designations would be availabl…
- Later deadline to invest deferred gains: benefit, medium. If enacted, the bill would let investors elect to put deferred gains into qualified opportunity funds through December 31, 2036 instead of December 31, 2026. Amounts invested before this bill's enactment would still be included in income on December 31, 2026. Amounts invested after enactment but be…
- New rules for Opportunity Fund housing: mixed, medium. If enacted, the bill would change tax rules for Opportunity Funds that own rental housing. A rental project would count as qualified property only if it meets the business-property test, at least 30% of occupied units are rented to people at or below 100% of area median income during most of the fu…

## Related bills

- 119-hr-7977: Energy Bills Relief Act
- 119-hr-7973: Momnibus Act
- 119-hr-2945: Housing for All Act of 2025
- 119-hr-3971: Domestic Workers Bill of Rights Act
- 119-hr-2927: All-Americans Tax Relief Act of 2025
- 119-hr-5356: National Infrastructure Bank Act of 2025

## Sources
- [119-hr-7820 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/7820)

## Related
- [119-hr-7977: Energy Bills Relief Act](https://policyrisk.com/legislation/119-hr-7977)
- [119-hr-7973: Momnibus Act](https://policyrisk.com/legislation/119-hr-7973)
- [119-hr-2945: Housing for All Act of 2025](https://policyrisk.com/legislation/119-hr-2945)
- [119-hr-3971: Domestic Workers Bill of Rights Act](https://policyrisk.com/legislation/119-hr-3971)
- [119-hr-2927: All-Americans Tax Relief Act of 2025](https://policyrisk.com/legislation/119-hr-2927)
- [119-hr-5356: National Infrastructure Bank Act of 2025](https://policyrisk.com/legislation/119-hr-5356)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-7820 (as of 2026-04-21).