Raimondo nominates 25 R.I. investment ‘opportunity zones’ to U.S. Treasury Department

OPPORTUNITY ZONES: A map of the nominated census tracts in Rhode Island that Gov. Gina M. Raimondo submitted to the U.S. Treasury Department as Opportunity Zones, areas in which investors become eligible for tax incentives for investing in real estate projects or businesses. / COURTESY COMMERCE RI
OPPORTUNITY ZONES: A map of the nominated census tracts in Rhode Island that Gov. Gina M. Raimondo submitted to the U.S. Treasury Department as opportunity zones, areas in which investors become eligible for tax incentives for investing in qualified real estate projects or businesses. / COURTESY COMMERCE RI
PROVIDENCE – In the federal Tax Cut and Jobs Act of 2017, there was a provision designed to encourage investment in low-income areas that will be designated as “opportunity zones.” The areas that will be named as opportunity zones will allow investors to qualify for tax incentives by reinvesting capital gains into qualified “opportunity funds”…

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