- Who We Are
- What We Do
- Our Impact
- Opportunity Zones
Opportunity Zones represent a new program intended to connect private investment capital to low-income communities nationwide. NMSC is one of many organizations working towards the successful implementation of the program, providing guidance through its inaugural stages and access to resources and tools.
“Too many American communities have been left behind by widening geographic disparities and increasingly uneven economic growth. We come from different parties and regions, but share the common conviction that all Americans should have access to economic opportunity regardless of their zip code.”
- Senators Scott and Booker & Congressmen Tiberi and Kind in a joint statement, 2/2/2017
The Opportunity Zones program was established by the bipartisan Investing in Opportunity Act as an innovative approach to spur long-term private sector investments in low-income urban and rural communities.
The program establishes Opportunity Zones as a mechanism through which investors with capital gains tax liabilities across the country may receive preferential tax treatment for investing in Opportunity Funds certified by the U.S. Treasury Department. Opportunity Funds use the capital invested to make equity investments in businesses and real estate in Opportunity Zones designated by each state.
Opportunity Zone: A low-income census tract (LIC) designated as a Qualfied Opportunity Zone by the governor of the state or territory in which it is located.
Opportunity Fund: A Qualified Opportunity Zone Fund is an investment vehicle organized as a corporation or partnership for the purpose of investing in Opportunity Zone property.
According to The Economic Innovation Group: