States Face Deadline to Designate Qualified Opportunity Zones
As part of the Tax Cuts and Jobs Act (P.L. 115-97), enacted on December 22, 2017, Congress created a new program to incentivize long-term private investment in low-income communities (LICs). Under the Opportunity Zones program, investors receive tax incentives for qualifying investments in low-income census tracts nominated for inclusion in the program by governors.
This Issue Brief describes the Opportunity Zones program and how states can nominate Qualified Opportunity Zones (QOZs) before the March 21 deadline.