Legislation Introduced to Create OZs in Low-Income Areas Hit by Hurricane Laura

Tuesday, October 6, 2020 - 2:00pm

Sen. John Kennedy, R-La., introduced legislation this week to create additional opportunity zones (OZs) made up of low-income community census tracts in communities that have been declared a major disaster area due to Hurricane Laura. The Hurricane Laura Recovery Opportunity Zones Act (S. 4780) would create a new Internal Revenue Code Section 1400AA, which would offer incentives nearly identical to those available under the OZ incentive in IRC Section 1400Z.

For more information on OZs, attend the Novogradac 2020 Opportunity Zones Fall Virtual Conference, Oct. 22-23.