Rep. Sheila Cherfilus-McCormick Introduces Housing Opportunity Act of 2026 to Expand Affordable Housing and Investment in Distressed Communities

FOR IMMEDIATE RELEASE: March 5, 2026

Rep. Sheila Cherfilus-McCormick Introduces Housing Opportunity Act of 2026 to Expand Affordable Housing and Investment in Distressed Communities

WASHINGTON, D.C. - Today, Representative Sheila Cherfilus-McCormick introduced the Housing Opportunity Act of 2026, legislation designed to strengthen the Opportunity Zone incentive and encourage the development of affordable housing in economically distressed communities.

"Communities across our nation deserve access to investment that creates real opportunities and affordable places to live," said Congresswoman Cherfilus-McCormick. "The Housing Opportunity Act of 2026 builds on the promise of Opportunity Zones by encouraging long-term investment while ensuring that development includes affordable housing for working families."

The Housing Opportunity Act of 2026 would:

• Extend the designation period for Qualified Opportunity Zones from 10 years to 20 years to provide greater certainty for long-term investment

• Extend the election period for deferral of capital gains invested in Qualified Opportunity Funds from December 31, 2026, to December 31, 2036

• Update the timing for inclusion of deferred gains depending on whether the investment occurs before or after enactment of the legislation

• Provide enhanced incentives for residential rental projects that meet income-qualified occupancy requirements for individuals earning 100 percent or less of the area median income (AMI)

• Establish rules governing rent increases and tenant protections for residential projects treated as Qualified Opportunity Zone property

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