What are Opportunity Zones?
“Opportunity Zones” is a new tax incentive, created through the Tax Cuts and Jobs Act of 2017, to encourage long-term investments in low-income communities across the United States—including Indian Country. There are 8,764 Opportunity Zones in the United States, with approximately 3,500 located in rural zip codes—many of which have experienced a lack of investment for decades. The Opportunity Zones initiative is not a top-down government program, but an incentive to spur private and public investment in America’s underserved communities. Opportunity Zones provide an incentive for investors to receive a tax deferral by re-investing their unrealized capital gains into what are known as Opportunity Funds.
Opportunity Zones Resources:
For more information about Opportunity Zones in Indian Country and how to access investments for Tribal projects, visit NAFOA’s resources.
- Tribal Economic Development Principles-at-a-Glance Series Opportunity Zones in Indian Country
- Opportunity Zones Best Practices Report to the President from The White House Opportunity and Revitalization Council
- Opportunity Zones Frequently Asked Questions
- Economic Development Administration OZ Website
- Opportunity Zones Toolkit Volume 2: A Guide to Local Best Practices and Case Studies
USET SPF Resolution
2020 SPF:006 Urging Legislative Action to Ensure Opportunity Zone Provisions Promote Economic Development Across Indian Country