Name: Opportunity Zones

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Description: <DIV STYLE="text-align:Left;"><P><SPAN>Opportunity zones were enacted as part of the 2017 tax reform package (Tax Cuts and Jobs Act) to address uneven economic recovery and persistent lack of growth that have left many communities across the country behind. An opportunity zone is a federal tax incentive for investors to invest in low-income urban and rural communities through the favorable treatment of reinvested capital gains and forgiveness of tax on new capital gains. This economic and community development tax incentive program provides a new impetus for private investors to support distressed communities through private equity investments in businesses and real estate ventures. The incentive is deferral, reduction and potential elimination of certain federal capital gains taxes.</SPAN></P></DIV>

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Copyright Text: City of Grand Junction GIS

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