Daily Tax Report ®

Opportunity Zones Keep Drawing Billions During Pandemic

Feb. 3, 2021, 5:02 AM

Tax-advantaged funds formed to invest in designated areas known as opportunity zones raised more than $3 billion in the last four months of 2020, according to a new survey.

The capital gains tax breaks, created in the 2017 tax law, are intended to draw money to historically disadvantaged areas. The incentives are available to investors in funds that finance projects in more than 8,700 census tracts across the U.S.

  • As of the end of 2020, a total of $15.16 billion had been raised by more than 650 qualified opportunity funds that...

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