The Opportunity Zones incentive is a new community investment tool established by Congress in the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in low-income urban and rural communities nationwide. Opportunity Zones provide a tax incentive for investors to re-invest their unrealized capital gains into dedicated Opportunity Funds.
What are Opportunity Zones?
The Opportunity Zones program encourages long-term investment and job creation in low-income areas of the state, by allowing investors to re-invest unrealized capital gains in designated census tracts. On April 20, 2018, Governor Bruce Rauner submitted the allowable 327 of the 1,305 qualifying census tracts to the federal government for inclusion in the Opportunity Zone program.
Opportunity Zone Presentations
- State, Local and Federal Economic Development Assistance Programs Overview
- Opportunity Zones Introduction
- Finding Housing Opportunities in Opportunity Zones
- Economic Development Incentives for Opportunity Zones
- Illinois Finance Authority Complimentary Programs
- Economic Development Administration
- USDA Rural Development