California needs to conform with federal Opportunity Zone provisions
Thursday, May 02, 2019
When California's state legislators return to session, one of the issues they will be considering is legislation that will allow the state to take full advantage of Opportunity Zones investment in some of the poorer areas of the state. Opportunity Zones (OZs) provide a new tax incentive to spur private investments in communities of need.
The program addresses a major challenge facing California and the rest of the nation — a profoundly uneven economic recovery that is producing great wealth and income in a distinct minority of communities, while leaving many others to struggle with chronically high levels of poverty and unemployment, and lagging incomes. It addresses this inequity by incentivizing investment in struggling communities through the tax code.