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The U.S. Tax Cuts and Jobs Act of 2017 established a new federal tax incentive to encourage long-term investments in certain low-income communities. The “Opportunity Zone” designation allows private investment in these communities from new “Opportunity Funds.” In total, 11 tracts (yellow in below map) were approved in Spokane County.

Private investment from an Opportunity Fund within an Opportunity Zone may earn tax relief on both the capital gains invested in the fund, and gains generated through the investment by the fund. 

For current information, you can visit the IRS FAQ and the Community Development Financial Institutions Fund. Information on Qualified Opportunity Zones in the City of Spokane can be found here

Spokane Region Opportunity Zones