To amend the Internal Revenue Code of 1986 to renew and enhance opportunity zones, and for other purposes.

HR 3687 renews and enhances the Opportunity Zone program, which provides tax incentives for investments in designated low-income communities. The bill extends the program through 2033, increases tax benefits for rural Opportunity Zones (offering a 30% basis increase instead of 10%), and establishes new reporting requirements for Opportunity Zone funds and businesses. It also mandates annual Treasury reports tracking the program's economic impact, including job creation, poverty reduction, and other metrics to evaluate effectiveness.