is amended to read as follows: (1) Low-income communities (A) In general Except as provided in subparagraph (B), the term low-income community has the same meaning as when used in section 45D(e). (B) Exception (i) In general Such term shall not include any census tract if the median family income for such tract exceeds 120 percent of the national median family income (as determined based on the most recent data published by the Bureau of the Census on the date of the enactment of the Opportunity Zone Reporting and Reform Act ). (ii) Special rule Clause (i) shall not apply to any census tract if— (I) the poverty rate for such tract is at least 20 percent, and (II) less than 10 percent of the population of such tract is enrolled in an institution of higher education (as defined in section 101 of the Higher Education Act of 1965). . (2) Contiguous census tracts Section 1400Z–1 of such Code is amended by striking subsection (e) and redesignating subsection (f) as subsection (e). (b) Treatment of previously designated tracts Section 1400Z–1 of the Internal Revenue Code of 1986, as amended by subsection (a)(2), is amended by adding at the end the following: (f) Treatment of certain census tracts (1) In general Except as provided in section 1400Z–2(d)(2)(D), any census tract (other than a census tract in Puerto Rico) which is not a low-income community and which was designated as a qualified opportunity zone before the date of the enactment of the Opportunity Zone Reporting and Reform Act shall not be treated as a qualified opportunity zone on or after such date of enactment. (2) Replacement zones (A) In general A State may designate a low-income community as a qualified opportunity zone to replace a census tract the status of which as a qualified opportunity zone was terminated by reason of paragraph (1). (B) Special rules For purposes of this subchapter— (i) the determination period with respect to a designation under subparagraph (A) shall be the 90-day period beginning on the date of the enactment of such Act, as