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Could a QOZ have its status revoked in the future?

I know OZs are based on Census tracts. Could they change in the future as new Census information is collected?

  • Valerie Grunduski
    September 23, 2019

    If a census tract was designated as a QOZ, this status will remain intact through the program expiration in Dec. 31, 2026, and throughout the timeline to recognized the 10-plus-year step-up in basis through 2047.

  • Guy Nicio
    July 31, 2019

    This seems unlikely. Since the investment opportunity effectively ends in 2026, I don't expect the Fed would change anything along those lines prior to then.

  • Matt Campbell
    July 23, 2019

    The zones are set for the forseeable future. I suppose they could change after a future census but there is at least a 10-year lock on the zones we have. Investors should feel comfortable that they are locked down and that they will get promised tax incentives by investing in such areas through a Qualified Opportunity Fund.

  • Pietra Zaffram
    July 17, 2019

    There are no indicators as to if or when an Opportunity Zone could have its status revoked, other than the fact all of the QOZ designations expire, as a matter of law, on Dec. 31, 2028.

  • Scott McIntosh
    July 17, 2019

    According to the OZ legislation, current Opportunity Zone designations remain in effect until the end of 2028, and benefits for investment in those zones extend until the end of 2047. New census results in 2020 will not affect the current designations. 26 USC 1400Z-1: "A designation as a qualified opportunity zone shall remain in effect for the period beginning on the date of the designation and ending at the close of the 10th calendar year beginning on or after such date of designation."

  • Forrest Milder
    July 16, 2019

    Opportunity Zones under the current code provision are now locked in, and they will not change on account of the 2020 Census.

  • Christopher Karachale
    July 16, 2019

    Nope. The zones were fixed when the IRS issued Notice 2018-48.