GAO Report Calls for More Oversight of OZs; Says Treasury Should Have Authority

Monday, November 9, 2020 - 9:30am

A report by the U.S. Government Accountability Office (GAO) says there is need for more oversight of opportunity zones (OZs) and makes two specific recommendations for Congress. In “Opportunity Zones: Improved Oversight Needed to Evaluate Tax Expenditure Performance,” the GAO says Congress should consider providing Treasury with the authority and responsibility to collect data and report on the performance of OZs, along with other agencies. The report also says Congress should consider identifying questions about the effects of OZs that it wants Treasury to address so data collection and reporting could be made better.