Webinar | August 2020
SLC Economic Development, Transportation & Cultural Affairs Committee Virtual Program
Presiding Officer: Representative Nathaniel Ledbetter, Alabama; Vice Chair, SLC Economic Development, Transportation & Cultural Affairs Committee
The Federal Tax Cuts and Jobs Act of 2017 included new incentives for stimulating private investment, economic development and job creation in underserved communities, designated as Opportunity Zones. According to the IRS, there are more than 8,700 Qualified Opportunity Zones nationally, including more than 3,000 in the SLC region. Under the program, individuals or entities that invest in economically distressed areas qualify for capital gains tax breaks. This program outlines the benefits and concerns surrounding Opportunity Zones and explores what actions states and localities can take to ensure that tax-advantaged funding is delivering sustainable investment in underserved communities.