Hawaii Gets Federal Approval on Census Tracts Nominated for New Opportunity Zones Program
Posted on May 16, 2018 in Community Economic Development, News, Nonprofit, Opportunity Funds, Opportunity Zones, U.S. Treasury
The recently passed Federal Tax Cuts and Jobs Act authorized a community economic development program called the Opportunity Zones Program. This new program provides incentives for investors to re-invest unrealized capital gains into Opportunity Funds in exchange for temporary tax deferral and other benefits. The Opportunity Funds will then be used to provide investment capital in certain low-income communities. For more information view the Opportunity Zones Program FAQs.
Here is the list of Opportunity Zones for Hawaii certified by the Department of the Treasury.
For an outline illustrating the benefits and how the program works, please refer to the Fact Sheet created by the Economic Innovation Group. EIG is a bipartisan public policy organization addressing America’s most pressing economic challenges.