Qualified Opportunity ZonesThis feature layer, utilizing data from the U.S. Department of the Treasury, depicts all Qualified Opportunity Zones in the United States. Per IRS, "Opportunity Zones are an economic development tool that allows people to invest in distressed areas in the United States. Their purpose is to spur economic growth and job creation in low-income communities while providing tax benefits to investors.Opportunity Zones were created under the Tax Cuts and Jobs Act of 2017 (Public Law No. 115-97). Thousands of low-income communities in all 50 states, the District of Columbia and five U.S. territories are designated as Qualified Opportunity Zones. Taxpayers can invest in these zones through Qualified Opportunity Funds." Chicago, Illinois Opportunity ZonesData currency: December 14, 2018Data source: Opportunity Zones ResourcesData modification: NoneFor more information: Opportunity NowFor feedback, please contact: ArcGIScomNationalMaps@esri.comCommunity Development Financial InstitutionsPer CDFI, "The CDFI Fund was created for the purpose of promoting economic revitalization and community development through investment in and assistance to Community Development Financial Institutions (CDFIs)."

This layer is published from the Department of Community Affairs to show Federally designated Opportunity Zones.The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have designated Opportunity Zones in 18 States, including 260 census tracts in the State of Georgia. Economic investment in these areas, which are some of the most distressed communities in the country, may now be eligible for preferential tax treatment. These new Federal Opportunity Zones are intended to facilitate investment in areas where poverty rates are greater than 20 percent.“This designation will enable some of our state’s struggling communities to attract much-needed private sector investment,” said DCA Commissioner Christopher Nunn. “By giving an economic ‘shot in the arm’ to these communities, the goal is to boost investment where it’s most urgently needed.”Georgia’s 260 zones, located in 83 counties, represent some of the most concentrated poverty in the state and are found in both rural and metropolitan areas, with approximately 60% rural and 40% urban. Qualified Opportunity Zones retain this designation for 10 years. Investors can defer tax on any prior gains until no later than December 31, 2026, so long as the gain is reinvested in a Qualified Opportunity Fund, an investment vehicle organized to make investments in Qualified Opportunity Zones. In addition, if the investor holds the investment in the Opportunity Fund for at least ten years, the investor would be eligible for an increase in its basis equal to the fair market value of the investment on the date that it is sold.Treasury and the IRS plan to issue additional information on Qualified Opportunity Funds to address the certification of Opportunity Funds, which are required to have at least 90 percent of fund assets invested in Opportunity Zones. DCA will communicate additional information about the specifics of the program as it is released by Treasury. Interactive map of designated Opportunity Zones.Additional information on Opportunity Zones.View a full list of Georgia’s designated census tracts, by county.Click here for FAQs.About the Georgia Department of Community AffairsThe Georgia Department of Community Affairs (DCA) partners with communities to create a climate of success for Georgia’s families and businesses through community and economic development, local government assistance, and safe and affordable housing. Using state and federal resources, DCA helps communities spur private job creation, implement planning, develop downtowns, generate affordable housing solutions, and promote volunteerism. DCA also helps qualified low- and moderate-income Georgians buy homes, rent housing, and prevent foreclosure and homelessness. For more information, visit www.dca.ga.gov.

Section 1400Z–1(b)(1)(A) of the Code allowed the Chief Executive Officer (CEO) of each State to nominate a limited number of population census tracts to be designated as Zones for purposes of §§ 1400Z–1 and 1400Z–2. Revenue Procedure 2018–16, 2018–9 I.R.B. 383, provided guidance to State CEOs on the eligibility criteria and procedure for making these nominations. Section 1400Z–1(b)(1)(B) of the Code provides that after the Secretary receives notice of the nominations, the Secretary may certify the nominations and designate the nominated tracts as Zones.

Section 1400Z–2 of the Code allows the temporary deferral of inclusion in gross income for certain realized gains to the extent that corresponding amounts are timely invested in a qualified opportunity fund. Investments in a qualified opportunity fund may also be eligible for additional tax benefits. To learn more about Qualified Opportunity Zones visit: https://www.cdfifund.gov/opportunity-zones, for questions about the spatial attribution of this dataset, please reach out to us at GISHelpdesk@hud.gov. Date of Coverage: 12/2019Data Dictionary: DD Opportunity Zone Eligible Census Tracts

Map of the Qualified Opportunity Zones in the City of Detroit. Data provided by the Detroit Economic Growth Corporation (DEGC) on the City of Detroit Open Data Portal, by census tract. Updated March 2018.

Qualified Opportunity Zones are a new community development program established by Congress in the Tax Cuts and Jobs Act of 2017. This program encourages new, long-term investment in property or businesses in specific areas around the City through federal tax incentives for investors. To take advantage of the program, investors must reinvest new capital gains into Qualified Opportunity Funds which are spent in Qualified Opportunity Zones.https://www.columbus.gov/development/economic-development/Opportunity-Zone-Programhttps://opportunityzones.ohio.gov/wps/portal/gov/ooz/home

This dataset contains the census tracts selected as Virginia’s 212 designated qualified Opportunity Zones.

Additional Resources:

Virginia Department of Housing and Community Development

Opportunity Zones are defined as "census tracts that are defined by the Internal Revenue Service (IRS) as “economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. They were added to the tax code by the Tax Cuts and Jobs Act on December 22, 2017" (CA Opportunity Zones). Areas highlighted on the map represent census tracts that were designated as Qualified Opportunity Zones. Designations are based on the boundaries of the tract at the time of the designation in 2018.The data associated with the map came from the U.S. Department of the Treasury's Opportunity Zones Resources webpage.

This dataset has been clipped to the Broward County extent from the Census dataset available through the United States Department of Treasury Community Development Financial Institutions (CDFI) Fund.

OPPORTUNITY ZONES RESOURCES: downloaded from Census : https://www.cdfifund.gov/Pages/Opportunity-Zones.aspx

The authority to implement IRC 1400Z-1 and 1400Z-2 has been delegated to the IRS. The CDFI Fund is supporting the IRS with the Opportunity Zone nomination and designation process under IRC 1400Z-1 only. In addition to an initial set of proposed regulations and guidance on how the Qualified Opportunity Zone (QOZ) tax benefits under IRC 1400Z-2 (including the certification of Qualified Opportunity Funds (QOFs) and eligible investments in QOZs) will be administered, Treasury and IRS have issued a second set of proposed regulations relating to gains that may be deferred as a result of a taxpayer's investment in a QOF, special rules for an investment in a QOF held by a taxpayer for at least 10 years, and updates to portions of previously proposed regulations under section 1400Z-2 to address various issues, including: the definition of “substantially all.” You may submit comments on the proposed regulations electronically via the Federal Rulemaking Portal at www.regulations.gov (IRS REG-115420-18 or IRS REG 120186-18).Concurrent with the second set of proposed regulations, Treasury and IRS published a request for information (RFI), asking for detailed comments regarding ways to assess QOF investments including asset class, identification of Qualified Opportunity Zones and the impact and outcomes on those Qualified Opportunity Zones. You may submit comments on the RIF electronically via the Federal Rulemaking Portal at www.regulations.gov (TREAS-DO-2019-0004). IRS also has posted a list of Frequently Asked Questions about Opportunity Zones on the irs.gov Tax Reform pages. You will want to monitor the Tax Reform page at the IRS website for additional Opportunity Zone information and other Tax Reform information. For any other questions, please call (800) 829-1040.

List of designated Qualified Opportunity Zones (QOZs): This spreadsheet was updated December 14, 2018, to include two additional census tracts in Puerto Rico that, based on 2012-2016 American Community Survey data, meet the statutory criteria for a Low-Income Community and are deemed as designated QOZs. Based on nominations of eligible census tracts by the Chief Executive Officers of each State, Treasury has completed its designation of Qualified Opportunity Zones. Each State nominated the maximum number of eligible tracts, per statute, and these designations are final. The statute and legislative history of the Opportunity Zone designations, under IRC § 1400Z, do not contemplate an opportunity for additional or revised designations after the maximum number of zones allowable have been designated in a State or Territory. Based on IRC 1400Z-1, designations are based upon the boundaries of the tract at the time of the designation in 2018, and do not change over the period of the designation, even if the boundaries of an individual census tract are redefined in future Census releases.

Source: United States Census Bureau

Effective Date:

Last Update:12/14/2018Update Cycle: As needed, Census occurs once every decade

Qualified Opportunity Zones in the City of Detroit by Census tract.

For questions about Tacoma and Qualified Opportunity Zones, please contact the City of Tacoma Community and Economic Development Department.This service provides spatial data for all U.S. Decennial Census tracts designated as Qualified Opportunity Zones (QOZs) for purposes of §§ 1400Z–1 and 1400Z–2 of the Internal Revenue Code (the Code). Source: US Department of Housing and Urban Development (HUD). Section 1400Z–1(b)(1)(A) of the Code allowed the Chief Executive Officer (CEO) of each State to nominate a limited number of population census tracts to be designated as Zones for purposes of §§ 1400Z–1 and 1400Z–2. Revenue Procedure 2018–16, 2018–9 I.R.B. 383, provided guidance to State CEOs on the eligibility criteria and procedure for making these nominations. Section 1400Z–1(b)(1)(B) of the Code provides that after the Secretary receives notice of the nominations, the Secretary may certify the nominations and designate the nominated tracts as Zones. Section 1400Z–2 of the Code allows the temporary deferral of inclusion in gross income for certain realized gains to the extent that corresponding amounts are timely invested in a qualified opportunity fund. Investments in a qualified opportunity fund may also be eligible for additional tax benefits. See the source dataset here: https://hudgis-hud.opendata.arcgis.com/datasets/ef143299845841f8abb95969c01f88b5_0/aboutDate of Coverage: 12/2019Data Dictionary: DD Opportunity Zone Eligible Census Tracts

Eligible low-income census tracts are tracts in which:(1) The tract has a poverty rate of at least 20%; or(2)(A) For a census tract in a metropolitan area, the tract’s median family income does not exceed 80% of the greater of (A) the metropolitan area median family income or (B) statewide median family income; or(2)(B) For a census tract in a non-metropolitan area, the tract does not exceed 80% of the statewide median family income. However, in the case of a census tract located within a high migration rural county, low-income is defined by reference to 85% of statewide median family income.A “high migration rural county” is any rural county that, during the 20-year period ending with the year in which the most recent census was conducted, has a net outmigration of inhabitants from the county of at least 10% of the county population at the beginning of such period. Census tracts that are not low-income communities can be designated as Opportunity Zones if the tract is contiguous with a low income community that is designated as an Opportunity Zone and the median family income of the tract does not exceed 125% of the median family income of the low-income community with which the tract is contiguous. However, not more than 5% of the tracts designated as Opportunity Zones in a state may be designated under this provision. A determination that a tract is an Opportunity Zone shall remain in effect for ten calendar years.

The federal tax bill, passed in December 2017, allows investors to defer or eliminate capital gains on investments made in “Opportunity Zones”. These zones must be designated by the governor in each state from a set of eligible Census tracts. Governors must select no more than 25 percent of eligible tracts statewide.Federal criteria for determining eligible areas states that tracts must either have poverty rates above 20 percent or median family income below 80 percent of either the statewide or metropolitan area income. 3,516 Census tracts in California qualify under this criteria, spread across 54 counties. Of these, the governor must select tracts as Opportunity Zones in California.The state’s final recommendation is provided on the map. Within the San Francisco Bay Region, 530 tracts were eligible under the federal criteria, of which 107 were designated by the governor. Of the 107 designated tracts, 94 tracts were Metropolitan Transportation Commission Communities of Concern (now Equity Priority Communities).

Recognizing that many small, rural downtown areas have experienced varying levels of economic distress, DCA worked with the Georgia General Assembly to secure passage of a bill calling for the development of “Rural Zones.” The establishment of up to 10 zones per year will enable businesses and investors to obtain tax credits for qualified activities occurring within designated Rural Zones. DCA, in partnership with the Georgia Department of Economic Development, will receive applications and designate zones each year to provide an incentive for job creation and private investment in the designated locations.Rural Zones informationThis designation shall last for five consecutive years upon approval of the Commissioners.This layer is used in map(s): Federal Opportunity Zones and Job Tax Credit Incentives

This feature layer, utilizing data from the U.S. Department of the Treasury, depicts all Qualified Opportunity Zones in the United States. Qualified Opportunity Zones were created under the 2017 Tax Cuts and Jobs Act to stimulate the economic development and job creation, by incentivizing long-term investments in low income neighborhoods. There are more than 8,760 Qualified Opportunity Zones located in all 50 states, the District of Columbia, and five United States territories. Investors can defer tax on any prior gains invested in a Qualified Opportunity Fund (QOF) until the earlier of the date on which the investment in a QOF is sold or exchanged or until December 31, 2026.

The Opportunity Zones Program was officially enacted as part of President Trump’s comprehensive tax reform plan via the Tax Cuts and Jobs Act which was passed in late December 2017. This act requests the Governor of each state to nominate up to 25 percent of eligible low-income census tracts as Opportunity Zones. Opportunity Zones are census tracks designated to provide a new tool for tax incentives, including a temporary deferral on capital gains taxes, when investors reinvest those gains in qualified Opportunity Funds. The funds must in turn invest in low-income communities from these designated census tracts (Opportunity Zones). These zones exist to spur new and small businesses, encourage development in blighted properties as well as a number of other activities intended to revitalize and enhance local economic ecosystems. The U.S. Department of Treasury is developing rules regarding the necessary qualifications of Opportunity Funds and eligible investments, which is being administrated by the Internal Revenue Service (IRS). To become a Qualified Opportunity Fund, an eligible taxpayer self certifies. There is no prior approval by the IRS required. This program is still new and it is anticipated that Treasury Department and the IRS will be providing further details over the next few months, such as additional legal guidance. For more information, please visit https://www.irs.gov/newsroom/opportunity-zones-frequently-asked-questions

The City of Dallas is home to 15 federally-designated Opportunity Zones. Opportunity Zones (OZ) can drive capital to support new businesses and investments in the targeted census tracts by providing Opportunity Zone investors with a deferral of capital gains taxes, among other tax benefits. Unlike other incentive programs, there are no monetary caps on Opportunity Zones investments, making the program flexible and scalable to meet market needs. All investments made to qualify for favorable tax treatment in the Opportunity Zone must be made by an Opportunity Zone fund that has been certified by the U.S. Department of Treasury. This map is used in the following App: https://dallasgis.maps.arcgis.com/apps/webappviewer/index.html?id=52cbde4dc6224af6bf208666ee5d3465Information correct as of June 29,2021.

This data represents areas designated to attract investment capital into low-income areas of North Carolina, known as The Tax Cuts and Jobs Act (H.R.1). North Carolina Opportunity Zones will offer qualified investors certain tax benefits when they invest unrealized capital gains into these areas. North Carolina’s 252 zones were certified by the United States Treasury on May 18, 2018. The following seven Durham County Census Tracts are among them: 37063001001, 37063001100, 37063001304, 37063001400, 37063001502, 37063002016, 37063002300. For more details from the City of Durham's Neighborhood Improvement Services, visit the following URL: https://durhamnc.gov/3802/Opportunity-Zones.

Explore census tracts designated by the US Treasury Department that are eligible for investments by new Opportunity Funds, for which investors can defer and reduce their capital gains tax bills. These can be viewed in relation to local zoning and publicly owned parcels to find potential sites for development.

The U.S. Investing in Opportunities Act, passed last year as part of the new federal tax bill, created tax incentives for investment in designated census tracts called Opportunity Zones. The statute, introduced with bipartisan sponsors led by Senators Cory Booker (D-NJ) and Tim Scott (R-SC), was designed to spur growth in low-income communities by encouraging reinvestment of capital gains into certified Opportunity Funds.Opportunity Zones (OZs) are probably best understood not as a new grant program but as a new investment tool – similar to the home mortgage interest deduction that creates tax preferences, which then drive individual and market behavior.With minor exceptions, the federal statute is not prescriptive in terms of the types of qualified investments, from affordable housing to clean energy to infrastructure to small business to workforce. This provides flexibility – as well as the need – to craft local and state strategies that will focus these investments to ensure they deliver living wage jobs, increase affordable housing, prevent unwanted gentrification and build resilient communities. This work is just beginning and there is time for communities to consider the benefits of the OZ tool, as the U.S. Treasury Department has yet to issue the full set of investment rules. Investors are expected to begin forming Opportunity Funds in the later part of 2018, after the Treasury issues final rules. More info is here. Source: https://opzones.ca.gov