Opportunity Zones Program

  • Governor Rick Scott submitted his nominations to the U.S. Department of the Treasury on April 19, 2018. For his full letter to the U.S. Treasury, click here.
    • For a full list of the nominated Opportunity Zones, click here.
    • For a list of Frequently Asked Questions on Opportunity Zone program, click here.
    • For a map showing the location of the nominated Opportunity Zone program, click here.
    • For the statewide press release, click here.
  • In December 2017, President Donald Trump signed the Tax Cuts and Jobs Act of 2017, which created a new tool for community economic development, the Opportunity Zones program.
  • This new tool provides tax incentives, including a temporary deferral on capital gains taxes, when investors reinvest those gains in qualified Opportunity Funds. The funds must in turn invest in low-income communities from designated census tracts, called Opportunity Zones.
  • The act requests the Governor of each state to nominate up to 25 percent of eligible low-income census tracts as Opportunity Zones. The act gives governors until March 21, 2018, to nominate these tracts or to request one 30-day extension. Florida has received a 30-day extension
    The state’s deadline for nominating tracts is April 20, 2018. 
  • After receipt of the state’s nomination, the U.S. Department of Treasury will have 30 days to certify the nominated Opportunity Zones or provide further guidance to the state.
  • The Florida Department of Economic Opportunity is working with the office of Florida Governor Rick Scott to provide data on low-income census tracts as part of the nomination process.
  • The U.S. Department of Treasury will be developing rules regarding the necessary qualifications of Opportunity Funds and eligible investments. More guidance about the funds and investments can be found at: Home Treasury - Press Release
  • The full text of H.R. 1, the Tax Cuts and Jobs Act of 2017, can be found at: Congress Bill 115th House Bill

Additional Opportunity Zone Resources

Economic Innovation Group: EIG Opportunity Zones

Enterprise Community Partners: Enterprise Community - Focus Opportunity Zone Program

National Development Council: NDC Online - Unpacking the Investment in Opportunity Act 

Opportunity Zone Eligibility Tool: Enterprise Community - Opportunity360

Department of Treasury Opportunity Zone Resources: CDFIFund - Opportunity Zones

 

Contacts

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