Oregon Lawmakers Ponder Bill to Depart From Opportunity Zone Law

Investors have received tax breaks for the hundreds of millions of dollars pumped into Oregon opportunity zones through the 2017 tax law. Now, a group of Democratic lawmakers is pushing a measure to eliminate the incentives at the state level.

The bill (HB 3039) seeks to disconnect the state from the federal opportunity zone program by adding back into Oregon taxable income any capital gains excluded from federal taxation under the program. If the measure is adopted, Oregon would become only the second state to pass legislation to distance itself from the program. Two years ago, New York ...