The Federal Tax Cuts and Jobs Act of 2017 authorized the governor of each U.S. state and territory to nominate a certain number of qualifying census tracts as “Opportunity Zones.” These designations had to be confirmed by the U.S. Department of the Treasury, which administers the program. Investments made through certified investment vehicles created as “Opportunity Funds” are used to drive needed capital into low-income communities in an effort to spur economic growth within designated Zones — for example, by supporting new businesses or real estate development. Parties who invest in Opportunity Funds can benefit from tax incentives, such as deferrals on capital gains tax.
The interactive map below displays the City of Lincoln’s qualified and confirmed LIC census tracts. To view the legend/key, click on the double arrows in the upper left corner of the map.