Comments to Treasury on Implementation of Opportunity Zones

Last week comments were submitted to the Department of Treasury on the implementation of Opportunity Zones, a new federal tax benefit that incents long-term private capital in distressed communities. Treasury should include community development best practices in the rules and regulations around Opportunity Zones and establish a framework that ensures equitable economic growth. Some comments also urge Treasury to request additional statutory authority from Congress to extend the 90-day nomination period because of the time needed to solicit public input and analyze the census tracts best suited for the potential influx of private capital. This comment letter comes as governors near the final deadline to either nominate 25 percent of their state’s distressed census tracts or request a 30-day extension from Treasury. See Enterprise’s free mapping tool for more information about eligible census tracts.