Tax-Advantaged Funds with Social Impact
As part of the Tax Cuts and Jobs Act passed in 2017, Congress established a new community development program to incentivize long-term, growth-oriented investments in low-income census tracts.
States nominated up to 25% of the low-income census tracts as Qualified Opportunity Zones (with up to 5% being low-income contiguous tracts) which were then certified by the Secretary of the U.S. Treasury via his delegation authority to the Internal Revenue Service.
The U.S. Department of the Treasury in June 2018 certified over 8,700 census tracts as Qualified Opportunity Zones in every U.S. state and territory.
Tax incentives available as part of the program include a temporary deferral of capital gains, a step-up in basis after 5 and 7 years and a permanent exclusion from taxable income for gains accrued after a qualified Opportunity Zone (QOZ) investment.
Our Opportunity Zone Funds focus on developing and renovating workforce housing across these communities.