Opportunity Zones are a bipartisan provision of the Tax Cuts and Jobs Act of 2017 championed by Senators Tim Scott (R-SC) and Cory Booker (D-NJ).
The legislation is designed to encourage & incentivize investors to redeploy and invest capital into low-income communities.
“Opportunity Funds” managed by professionals are currently being formed for the purpose of investing directly into low-income communities designated Opportunity Zones. Individuals may also form, fund and self manage an Opportunity Fund via a straightforward “self-certification” process.
Opportunity Zones have no detrimental effect on state or local tax revenue. The goal is to increase investment in low-income communities to solidify and strengthen the state and local tax base!
