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Rubio, Scott Introduce Legislation to Create Special Disaster OZs

Thursday, April 4, 2019 - 10:30AM

Sens. Marco Rubio, R-Fla., and Rick Scott, R-Fla., introduced legislation that would allow governors to nominate areas hit by 2018 hurricanes and California wildfires as opportunity zones (OZs). The Disaster Opportunity Zones Act would enact a new round of OZ designations for North Carolina, South Carolina, Georgia, Florida and California. Governors could select the greater of 25 or 25 percent of low-income census tracts in their states affected by natural disasters to be disaster OZs. Rubio released a press release and a one-page summary of the legislation.

This legislation, what might be expected from the current session of Congress and how legislation could improve the OZ incentive will be discussed at the Novogradac 2019 Opportunity Zones Spring Conference in Denver, April 25-26.

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