What is an Opportunity Zone?
An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation authority to the Internal Revenue Service. source
What is a Qualified Opportunity Fund?
Qualified Opportunity Fund is an investment vehicle that is set up as either a partnership or corporation for investing in eligible property that is located in an Opportunity Zone and that utilizes the investor’s gains from a prior investment for funding the Opportunity Fund. source
How many Opportunity Zones are located in California?
There are 879 designated Opportunity Zones in California. source
Where can I check an address to see if the location is in a California Opportunity Zone?
The California Department of Finance has an interactive map that includes the ability to type-in a specific address to check on its Opportunity Zone eligibility. source
Does California has a website for more information about Opportunity Zones?
Yes, in October 2018, California state government launched a new website to assist local governments, investors, and community development partners. The site includes information on California Opportunity Zone Partnership.
Where can I find more information about Opportunity Zones?
There are a number of good sources for economic and community development information on Opportunity Zones, including, but not limited to, Enterprise Community Partners, Economic Innovation Group, the U.S. Internal Revenue Service, and the California Department of Finance.