New York State Bill Introduced to End State Tax Incentives for OZ Investments
New York state Sens. Michael Gianaris and Jessica Ramos introduced a bill today that would eliminate state tax incentives for capital gains when investing in federal qualified opportunity zones (OZs). S.B. 3401 would be effective for tax years beginning on and after Jan. 1, 2018. The bill, designed to eliminate a state incentive to participate in the OZ incentive, was assigned to the Senate Budget and Revenue Committee.