Three More States Invite Comment on Opportunity Zone Selection
Connecticut, Maine and Indiana this week invited communities and economic development entities to comment on the selection of qualified opportunity zones for their states, joining nine states that have already done so. Governors of each state have until March 21 to designate up to 25 percent of the qualified census tracts in their states as opportunity zones or request a 30-day extension. Qualified census tracts are those with a poverty rate of at least 20 percent or a median income that doesn’t exceed 80 percent of the area median income. The Opportunity Zone program was established by H.R. 1 to encourage long-term private investment in low-income communities.