A bill to create a state incentive in Washington for investment in opportunity zones (OZ) and rural development passed both houses of the state legislature and has been sent to Gov. Jay Inslee. H.B. 1324 would create a tax credit against business tax or insurance premium tax equal to the amount of the contribution to a rural development and opportunity zone account.
A bill to conform Hawaii to the Internal Revenue Code for investments in federal opportunity zones (OZs) in the state has been sent to Gov. David Ige. S.B. 1130 would be effective for taxable years beginning Jan. 1, 2019, and the OZ provisions would apply only to investments in Hawaii’s OZs. Ige has until Sunday to veto the bill. If he signs it or takes no action, it becomes law.
Legislation in Texas to create a 25 percent tax credit for investments in opportunity zones (OZs) and rural areas passed the House and is now before the state Senate. H.B.
Legislation in Nebraska that would give priority to federal opportunity zones (OZs) in receiving funds from the state Affordable Housing Trust Fund (HTF) and other programs unanimously passed the state Legislature and is now on the desk of Gov. Pete Ricketts. L.B.
The White House Opportunity and Revitalization Council Wednesday published its implementation plan on administrative reforms and initiatives to target, streamline, coordinate and optimize federal resources in economically distressed communities, including opportunity zones (OZ). The council, which is chaired by U.S.
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