(1) IN GENERAL.—As soon as practical after 
the date of the enactment of this Act, and annually 
thereafter, the Secretary of the Treasury, or the 
Secretary’s delegate (referred to in this section as 
the ‘‘Secretary’’), in consultation with the Director 
of the Bureau of the Census and such other agencies 
as the Secretary determines appropriate, shall make 
publicly available a report on qualified opportunity 
funds. 
(2) INFORMATION INCLUDED.—The report re-
quired under paragraph (1) shall include, to the ex-
tent available, the following information: 
(A) The number of qualified opportunity 
funds. 
(B) The aggregate dollar amount of assets 
held in qualified opportunity funds. 
(C) The aggregate dollar amount of invest-
ments made by qualified opportunity funds in 
qualified opportunity fund property, stated sep-
arately for each North American Industry Clas-
sification System (NAICS) code. 
(D) The percentage of population census 
tracts designated as qualified opportunity zones 
that have received qualified opportunity fund 
investments. 
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(E) For each population census tract des-
ignated as a qualified opportunity zone, the ap-
proximate average monthly number of full-time 
equivalent employees of the qualified oppor-
tunity zone businesses in such qualified oppor-
tunity zone for the preceding 12-month period 
(within numerical ranges identified by the Sec-
retary) or such other indication of the employ-
ment impact of such qualified opportunity fund 
businesses as determined appropriate by the 
Secretary. 
(F) The percentage of the total amount of 
investments made by qualified opportunity 
funds in— 
(i) qualified opportunity zone property 
which is real property; and 
(ii) other qualified opportunity zone 
property. 
(G) For each population census tract, the 
aggregate approximate number of residential 
units resulting from investments made by quali-
fied opportunity funds in real property. 
(H) The aggregate dollar amount of in-
vestments made by qualified opportunity funds 
in each population census tract. 
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(3) ADDITIONAL INFORMATION.— 
(A) IN GENERAL.—Beginning with the re-
port submitted under paragraph (1) for the 6th 
year after the date of the enactment of this Act, 
the Secretary shall include in such report the 
impacts and outcomes of a designation of a 
population census tract as a qualified oppor-
tunity zone as measured by economic indicators, 
such as job creation, poverty reduction, new 
business starts, and other metrics as deter-
mined by the Secretary. 
(B) SEMI-DECENNIAL INFORMATION.— 
(i) IN GENERAL.—In the case of any 
report submitted under paragraph (1) in 
the 6th year or the 11th year after the 
date of the enactment of this Act, the Sec-
retary shall include the following informa-
tion: 
(I) For population census tracts 
designated as a qualified opportunity 
zone, a comparison (based on aggre-
gate information) of the factors listed 
in clause (iii) between the 5-year pe-
riod ending on the date of the enact-
ment of Public Law 115–97 and the 
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most recent 5-year period for which 
data is available. 
(II) For population census tracts 
designated as a qualified opportunity 
zone, a comparison (based on aggre-
gate information) of the factors listed 
in clause (iii) for the most recent 5- 
year period for which data is available 
between such population census tracts 
and a similar population census tracts 
that were not designated as a quali-
fied opportunity zone. 
(ii) CONTROL GROUPS.—For purposes 
of clause (i), the Secretary may combine 
population census tracts into such groups 
as the Secretary determines appropriate 
for purposes of making comparisons. 
(iii) FACTORS
LISTED.—The factors 
listed in this clause are the following: 
(I) The unemployment rate. 
(II) The number of persons 
working in the population census 
tract, including the percentage of such 
persons who were not residents in the 
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population census tract in the pre-
ceding year. 
(III) 
Individual, 
family, 
and 
household poverty rates. 
(IV) Median family income of 
residents of the population census 
tract. 
(V) Demographic information on 
residents of the population census 
tract, including age, income, edu-
cation, race, and employment. 
(VI) The average percentage of 
income of residents of the population 
census tract spent on rent annually. 
(VII) The number of residences 
in the population census tract. 
(VIII) The rate of home owner-
ship in the population census tract. 
(IX) The average value of resi-
dential property in the population cen-
sus tract. 
(X) The number of affordable 
housing units in the population census 
tract. 
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(XI) The number and percentage 
of residents in the population census 
tract that were not employed for the 
preceding year. 
(XII) The number of new busi-
ness starts in the population census 
tract. 
(XIII) The distribution of em-
ployees in the population census tract 
by North American Industry Classi-
fication System (NAICS) code. 
(4) PROTECTION OF IDENTIFIABLE RETURN IN-
FORMATION.—In making reports required under this 
subsection, the Secretary— 
(A) shall establish appropriate procedures 
to ensure that any amounts reported do not dis-
close taxpayer return information that can be 
associated with any particular taxpayer or com-
petitive or proprietary information, and 
(B) if necessary to protect taxpayer return 
information, may combine information required 
with respect to individual population census 
tracts into larger geographic areas. 
(5) DEFINITIONS.—Any term used in this sub-
section which is also used in subchapter Z of chapter 
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