- Designation of Opportunity Zones
- March 7, 2018 | Authors: Aileen S. Thomas; Jonathan R. Katz
- Law Firms: Jones Walker LLP - Jackson Office; Jones Walker LLP - New Orleans Office
The Tax Cuts and Jobs Act of 2017 allows Governors of each State to nominate eligible census tracts for designation as “qualified opportunity zones.”
Several States, including Missouri and Idaho, have launched portals allowing cities and counties to propose census tracts for inclusion in the nominations. It is expected that other States will roll-out similar portals.
The deadline for Governors to submit their nominations to the US Department of Treasury is March 21, 2018, unless a single 30-day extension is requested.Additional information can be found on the CDFI Fund’s Opportunity Zone Resource Page, including a map and sortable lists of all census tracts eligible for designation as a qualified opportunity zone.