Governor Bullock Sends Opportunity Zone Nominations to U.S. Treasury

Governor Steve Bullock has nominated 25 areas of Montana for designation as an Opportunity Zone, after communities submitted proposals for consideration.

The federal Tax Cuts and Jobs Act of 2017 established a new economic development program called Opportunity Zones designed to encourage long-term private investment in low-income communities. The program provides a federal tax incentive for taxpayers who reinvest unrealized capital gains into "Opportunity Funds," which are specialized investment vehicles dedicated to certain low-income areas called "Opportunity Zones."

"We asked cities, towns, counties, tribes, and economic development organizations to nominate areas that are most likely to realize development which benefits communities," said Governor Bullock. "I’m confident that the final zones I’ve nominated to the U.S. Treasury Department represent both high-needs communities and areas that are ripe for investment in rural and urban corners of our state."

http://commerce.mt.gov/News/PressReleases/governor-bullock-sends-opportunity-zone-nominations-to-us-treasury