Opportunity Zones
What are Opportunity Zones?
Opportunity Zones are a community development program established by Congress in the Tax Cut and Jobs Act of 2017 to encourage long-term investments in low-income and urban communities nationwide. Each Governor is authorized to designate 25% of the eligible census tracts as Opportunity Zones in their state.
Learn more about Opportunity Zones here:
Find the Minnesota Census Tracts Designated as Qualified Opportunity Zones here:
What are Opportunity Funds?
Opportunity funds are a new class of private sector investment vehicles to aggregate and deploy private investment into Opportunity Zones. Opportunity Funds allow U.S. investors holding unrealized gains in stocks and mutual funds to pool their resources in projects located in Opportunity Zones, which will be invested into rebuilding low-income communities.
Implementation of Opportunity Zones has been delegated to the IRS by the US Department of the Treasury's Community Development Institutions Fund.