Budget legislation signed by Ohio Gov. Mike DeWine includes a provision increasing the state opportunity zones (OZ) tax credit taxpayer cap per fiscal biennium to $2 million. The budget legislation retained the statewide cap of $50 million per fiscal biennium, but doubled the amount a single taxpayer can claim. The 10% credit is for investments in qualified opportunity funds that hold 100% of their invested assets in Ohio.

State and local incentives for OZ investment will be among the topics at the Novogradac 2021 Fall Opportunity Zones Conference Oct. 21-22 in Cleveland.