Commerce to Host Virtual Listening Session on Opportunity Zones Tuesday, Oct. 23
The Washington State Department of Commerce, together with the Federal Reserve Bank of San Francisco and local partners, held Opportunity Zone Listening Sessions throughout Washington state in August, September and October to help educate communities about this new federal program.
Because we weren’t able to host sessions in every community, Commerce is holding a virtual listening session online on Tuesday, Oct. 23 at 10 a.m. Space is limited, so please register now.
During this listening session, you will learn about the Opportunity Zone program. Topics will include:
- How the tax incentives work
- Who can invest in Opportunity Zones
- The types of investments that are eligible
- The location of Opportunity Zones in Washington state
Background
The Tax Cuts and Jobs Act of 2017 was signed into law on Dec. 22, 2017. The Opportunity Zone program was included in that act, which was designed to provide tax incentives to investors who fund businesses in underserved communities. Investors are able to defer paying taxes on capital gains that are invested in Qualified Opportunity Funds that in turn are invested in distressed communities designated as Opportunity Zones by each state.
Space is limited. If you are unable to listen live, please do not register and instead email mlafayette@ndconline.org to request the recording.