Legislation Would Extend Opportunity Zones Incentive Through End of 2028

Thursday, February 18, 2021 - 12:30pm

The federal opportunity zones (OZ) incentive would be extended until the end of 2028 under legislation introduced in the House of Representatives. The Opportunity Zones Extension Act of 2021 would allow taxpayers to defer taxes on capital gains invested in qualified opportunity funds (QOFs) through 2028, two years later than currently allowed. A press release issued by legislation sponsors Rep. Tim Burchett, R-Tennessee, and Rep. Henry Cuellar, D-Texas, said the extension “will attract private sector investment in underserved communities, building on pre-pandemic success and helping them come back stronger than before.”

Extension legislation will be among the topics at the Novogradac 2021 Spring Opportunity Zones Virtual Conference, April 22-23.