The 2017 Tax Cuts and Jobs Act [TCJA] established over 8,700 federally designated Qualified Opportunity Zones [QOZs] throughout the US in census tract areas selected by the governors of each state. These QOZs were created to spur economic growth and development by extending generous tax incentives to investors who invest their capital gains into Qualified Opportunity Funds [QOFs], which in turn acquire assets located in these Zones. Watch the video below to learn how Opportunity Zones work.
