Delta Regional Authority lays out details of new federal Opportunity Zones; Arkansas Senate passes enabling legislation

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A panel of legal and business experts on Wednesday provided an in-depth overview of the new federal Opportunity Zone rules that local and state economic officials hope will boost poor and distressed communities across the state.

The discussion on the new federal program, which was inserted in the omnibus $1.8 trillion Tax Cut and Jobs Act passed by Congress in December 2017, was part of the agenda at the three-day annual meeting of the Delta Regional Authority held at the downtown Marriott Hotel in Little Rock and occurred just as the Arkansas Senate passed a bill in support of the program.

Under the 2017 tax cut plan approved by Congress, President Donald Trump’s administration strongly backed a new Department of Treasury and Internal Revenue Service program establishing qualified Opportunity Zones to spur investment in distressed communities across the country through a new federal capital gains tax incentive.

Read more: https://talkbusiness.net/2019/02/delta-regional-authority-lays-out-details-of-new-federal-opportunity-zones-arkansas-senate-passes-enabling-legislation/

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