New Tax Incentive For Investment In Low-Income Communities
Background
Investment in a Qualified Opportunity Zone is a new program intended to connect private investment capital to low-income communities nationwide. This concept was originally presented in a bipartisan bill, the “Investing in Opportunity Act” as an innovative approach to spur long-term private sector investments in low-income urban and rural communities. While the stand-alone act did not progress through Congress, the provisions it contained were incorporated into the Tax Cuts and Jobs Act enacted on December 22, 2017.
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