To designate all of Puerto Rico as an opportunity zone.

In general— Section 1400Z–1(b)(3) of the Internal Revenue Code of 1986 is amended by striking “that is a low-income community shall be deemed to be certified and designated as a qualified opportunity zone, effective on the date of the enactment of Public Law 115–97” and inserting “shall be deemed to be certified and designated as a qualified opportunity zone.”

Effective date— The amendment made by this section shall apply to taxable years beginning after December 31, 2020.