August 10, 2026 · Investment
Trident Capital Group and O'Connor Capital Partners closed a joint venture with Clarion Partners for the third phase of Rickenbacker Industrial Center in Columbus, Ohio — a 959,579-square-foot speculative industrial facility now under construction at 1669 Rohr Road, slated for completion in Q1 2027. The 57.3-acre project sits inside a designated Qualified Opportunity Zone and carries a 15-year, 75% property tax abatement, with 40-foot clear heights, 104 dock doors, and direct rail access in the Rickenbacker corridor near the international cargo airport. Institutional capital at this scale committing to OZ-sited logistics is exactly the activity the program's backers point to as the 2027 cycle approaches.
August 10, 2026 · State Process
A census tract running through the heart of Shoshone County's Silver Valley is among the Idaho Economic Advisory Council's top recommendations for Opportunity Zone 2.0 designation, local officials say — a potential draw for private investment in redevelopment, housing, and business projects along the historic mining corridor. The tract was among the 25 the council recommended to Governor Brad Little, who finalizes Idaho's nominations ahead of the September 28 federal deadline.
August 7, 2026 · State Process
California's draft Opportunity Zone 2.0 list rejects roughly three-quarters of the 27 census tracts Kern County recommended, excluding downtown Bakersfield and other urban areas that local leaders had prioritized. The state instead proposes 20 Kern tracts — 13 of which were never recommended locally — leaving stakeholders dismayed at the mismatch between county priorities and Sacramento's data-driven selections. The episode is an early look at the power dynamics of OZ 2.0: counties recommend, but governors decide, and California's draft signals the state is optimizing to its own criteria over local wish lists ahead of the September federal deadline.
August 6, 2026 · State Process
Commercial Observer reports New York State has roughly 1,702 census tracts qualifying under OZ 2.0's tightened income and poverty thresholds, of which Governor Kathy Hochul's office can nominate no more than 426 for designation effective January 1, 2027. The piece urges local governments and stakeholders to engage Empire State Development and the Regional Economic Development Councils now rather than waiting for the late-September federal deadline, noting this round emphasizes strategic, data-driven tract selection over the 2018 process. New York's picks — especially in the five boroughs — will be among the most consequential of the cycle for institutional OZ capital.
August 3, 2026 · State Process
In the first outright rejection of the OZ 2.0 cycle we've tracked, Camden County, Missouri commissioners declined to recommend a Lake of the Ozarks-area tract for Opportunity Zone status after overflow crowds — more than 100 residents — turned out fearing the designation would enable a large data-center development sought by Mo Lake Development. The backlash spread: Camdenton's Board of Aldermen rescinded its earlier letter of support and passed a 12-month data-center moratorium, State Rep. Jeff Vernetti withdrew his backing, and the developer ultimately ended its annexation agreement with the city. A reminder that OZ designations are locally contested — and that data-center opposition is becoming a real constraint on where OZ capital can land.
August 3, 2026 · Investment
The Rutland Redevelopment Authority established the Rutland Catalyst Fund, offering tax incentives to investors backing projects in the Vermont city's Opportunity Zone — a designation Rutland has held since 2017 but which, per RRA Executive Director Sean Adkins, has gone essentially unused. The fund is tied to completing the city's downtown hotel project and aims to make the dormant OZ 1.0 zone investable before the program's transition. It's a case study in the long tail of OZ 1.0: hundreds of designated zones never saw a dollar of QOF capital, and local vehicles like this are one way cities are trying to change that before the map redraws.
August 3, 2026 · State Process
Charleston, Missouri is pursuing Opportunity Zone designation to attract long-term private investment and redevelopment, hiring economic-development consultancy KBS Group to guide the effort. KBS principal Shad Burner — who also advises Cape Girardeau's six-tract bid — said the designation's federal capital-gains incentives make communities more attractive to developers. Charleston joins a widening set of southeast Missouri communities feeding the state's OZ 2.0 nomination process ahead of the fall federal deadline.
July 31, 2026 · State Process
Marseilles, Illinois is seeking a federal Opportunity Zone designation for a corridor running from Bluff Street north to Interstate 55 and east of Rutland Street (Town Line Road), aiming to draw private investment and economic development to the LaSalle County city. The bid feeds Illinois' OZ 2.0 process: the state — which currently has 327 designated zones, 84 of them rural — is expected to nominate roughly 238 additional zones from about 950 eligible census tracts based on income and poverty data, ahead of the fall federal deadline.
July 30, 2026 · State Process
Idaho's Economic Advisory Council recommended 25 census tracts for Opportunity Zone 2.0 designation out of 36 submitted by cities and counties, with the top three ranked tracts all in Boise. The rankings weighed likelihood of investment using Urban Institute data, prioritizing downtown and Main Street revitalization, housing development, and commercial-industrial growth corridors, per state Commerce Rural Services Manager Jerry Miller. Governor Brad Little makes the final call before Idaho's submission to Treasury by the September 28 federal deadline.
July 29, 2026 · State Process
The Marshfield Common Council voted to apply for Opportunity Zone 2.0 designation through Wisconsin's state process, targeting a district that follows the Central Avenue corridor from East Ives Street north to roughly East 14th Street. City Planner James Lieven said the designation would use federal capital-gains incentives to draw private redevelopment investment to the qualifying low-income corridor. The application feeds Wisconsin's statewide nomination ahead of the fall federal deadline.
July 28, 2026 · Federal Guidance
A new working paper from the Treasury Department's Office of Tax Analysis puts hard numbers on the Opportunity Zone program's first seven years: roughly $112 billion invested through about 12,800 Qualified Opportunity Funds, held by roughly 41,000 investors. The aggregate value of deferred capital gains stood at $75 billion at the end of 2024 — gains that become taxable when the OZ 1.0 deferral period ends December 31, 2026. Early investors who entered by the end of 2019 or 2021 also received a 15% or 10% basis step-up, softening their eventual bills. The report lands as pre-2027 investors weigh exits, reinvestment into new QOFs, and the transition rules in IRS Notice 2026-40.
July 24, 2026 · State Process
Governor Albert Bryan Jr. announced the U.S. Virgin Islands nominated all 18 of its eligible census tracts for Qualified Opportunity Zone designation, submitting them to the U.S. Treasury on July 24 — the first completed filing of the OZ 2.0 cycle we've tracked. Notably, the Bryan-Roach administration worked through the federal census boundary process to redraw tract lines so that strategically important areas on St. Croix's south shore — including the Renaissance industrial area and the former HOVENSA refinery property — fell within eligible tracts. Treasury now reviews the nominations ahead of the January 1, 2027 effective date.
July 23, 2026 · State Process
A public comment period is open for six census tracts in the Cape Girardeau area — most within the city itself — that are eligible for federal Opportunity Zone designation under OZ 2.0. Shad Burner, CEO of Southeast Missouri Regional Economic Development Inc. (SEMO REDI), noted the One Big Beautiful Bill Act lets states either redesignate existing zones or apply for new ones this cycle. The tracts feed Missouri's statewide nomination process through the state Department of Economic Development ahead of the federal deadline.
July 22, 2026 · State Process
Nebraska Governor Jim Pillen announced his 28 picks for Opportunity Zone 2.0 nominations — one of the first governors nationally to publicly name a full slate. The selections stretch statewide, from Scottsbluff in the west to Omaha, which landed 10 of the 28 tracts. Among them is a Lexington tract that is home to the former Tyson Foods plant, whose closure is costing the town roughly 3,000 jobs; Mayor John Fagot, who joined the announcement alongside other mayors, said he expects the designation to help the town rebuild. The nominations now go to the U.S. Treasury for certification ahead of the January 1, 2027 effective date.
July 21, 2026 · Industry Analysis
A Bisnow analysis reports that more than half of U.S. states have finished soliciting public input on their Opportunity Zone 2.0 nominations — meaning communities and developers hoping to influence the 2027–2036 map are running out of time. Governors must submit their proposed maps to the U.S. Treasury by the late-September federal deadline, and many states front-loaded their comment windows before and just after the July 1 opening. The takeaway for investors and local officials: the next OZ map is being locked in now, state by state, months before the January 1, 2027 effective date.
July 21, 2026 · State Process
The Commissioners of St. Mary's County, Maryland voted unanimously on July 21 to nominate census tracts covering portions of Great Mills Road and California (MD) for Opportunity Zone 2.0 designation, following a recommendation presented by Deputy Director of Economic Development Kellie Hinkle. The county joins Charles County among Maryland jurisdictions advancing tracts; Maryland counties submit nominations through August 7, with the governor forwarding up to 113 tracts to Treasury by late September.
July 20, 2026 · State Process
Hamilton County and Chattanooga leaders jointly unveiled a redevelopment plan for the Rossville Boulevard corridor built around nominating three census tracts for Opportunity Zone 2.0, paired with a local incentive package for the stretch between Interstate 24 and the Georgia state line. County Mayor Weston Wamp framed the effort as 'restorative growth' — steering investment into already-served corridors rather than expanding into undeveloped land. The tracts feed Tennessee's statewide nomination process ahead of the federal deadline.
July 18, 2026 · State Process
The Citrus Heights, California City Council unanimously approved a resolution nominating three eligible census tracts for Opportunity Zone 2.0 designation, targeting the city's commercial cores. The tracts cover the Sunrise Mall area, the Stock Ranch commercial district (City Hall, Sam's Club, Safeway), and the Greenback Lane/Auburn Boulevard corridor. The nominations go to California's GO-Biz, which will decide which of the state's eligible tracts to forward to the U.S. Treasury for final designation, effective January 1, 2027.
July 16, 2026 · State Process
Vermont's Agency of Commerce and Community Development has recommended 25 communities as Opportunity Zones for Governor Phil Scott's consideration, publishing a draft map after months of work with regional economic-development partners. The agency weighed traditional metrics — poverty and unemployment, population and jobs — plus overlap with existing infrastructure and state programs. Public input on the draft map is open through July 24; if the governor approves, the recommendations go to the U.S. Treasury for designation, effective January 1, 2027.
July 16, 2026 · State Process
North Carolina is choosing among 807 eligible low-income census tracts for Opportunity Zone 2.0 designation, with the state able to nominate up to 202. Governor Josh Stein directed the North Carolina Department of Commerce to gather public input on which tracts hold the most investment and economic-development potential, aligning the selection with his administration's push to expand housing and attract business. The state's recommendations feed the federal nomination process, with new designations taking effect January 1, 2027.
July 14, 2026 · Investment
Kinect Real Estate Partners has launched the Gresham OZ Fund, a single-asset Qualified Opportunity Fund backing a transit-oriented multifamily development next to the Gresham Station light-rail stop east of Portland, Oregon. Unlike a blind-pool fund, investors commit to a specific, fully entitled project already under construction. Co-founder BJ Kuula framed it as extending a time-tested real estate strategy to the private-wealth channel. The launch follows Kinect Opportunity Fund II, which closed at $126.5 million in June 2026 — another sign of sponsors bringing shovel-ready OZ deals to market as the OZ 2.0 cycle opens.
July 14, 2026 · State Process
The Kern County Board of Supervisors voted 4-0 to forward 27 census tracts for Opportunity Zone 2.0 review — 15 in Bakersfield plus one each in Arvin, California City, Delano, McFarland, Ridgecrest, Shafter, and Wasco, and seven in unincorporated areas including Boron, Buttonwillow, Lamont, Mojave, Oildale, Rosamond, and the Taft-Maricopa region. The nominations head to California's GO-Biz and then to the federal government. The state will take public comment on all its nominations next month before forwarding recommendations to Treasury.
July 13, 2026 · Investment
Bonaventure has broken ground on Attain at Newtown, an $85.3 million, 320-unit Class A multifamily development inside a federally designated Qualified Opportunity Zone in Norfolk, Virginia. The project is capitalized with Cafritz Asset Management, a private family office, plus long-term HUD Section 221(d)(4) financing originated by Greystone, with first units expected in Fall 2027. Bonaventure, which reports more than $2.9 billion in assets under management, is targeting a Hampton Roads submarket facing sustained housing-supply constraints. It is a concrete example of institutional OZ capital breaking ground as the OZ 2.0 cycle ramps.
July 13, 2026 · State Process
The Yavapai County Board of Supervisors voted 4-1 to recommend two Verde Valley census tracts for Opportunity Zone 2.0 designation: one in Clarkdale (Census Tract 19.01) and one in Cottonwood (Tract 20.7) that edges into Clarkdale. The county is advancing the tracts to draw private, capital-gains-deferred investment into the area. Notably, a previously eligible Camp Verde tract no longer qualifies — rising incomes and property values pushed it above the federal low-income threshold, a reminder that OZ 2.0's tighter criteria are reshaping the eligibility map.
July 13, 2026 · Industry Analysis
An ArentFox Schiff alert lays out the estate-planning angle on Qualified Opportunity Zones after the One Big Beautiful Bill Act, noting that most QOZ estate-planning rules from the 2017 law carry over largely unchanged. It covers the treatment of QOF interests at death, planning with gifts and grantor trusts, and holding-period considerations for heirs, alongside the December 31, 2026 deferred-gain recognition date (measured against the lower of the deferred gain or the fund interest's fair market value). One permanent change: OBBBA locks in the 10% five-year basis step-up but eliminates the former additional 5% step-up, capping the in-hold basis benefit at 10%. The takeaway: OZ is now a durable estate-planning tool, but the mechanics require careful, ongoing tracking of QOF interests.
July 10, 2026 · State Process
The Sonora City Council approved a resolution supporting a federal Opportunity Zone designation for Downtown Sonora, aiming to spur reinvestment in older building stock, adaptive reuse, housing near jobs, walkable mixed-use development, and historic-downtown revitalization. The resolution urges pairing the downtown tract with other eligible Tuolumne County rural tracts — including nearby Columbia — for a broader regional designation supporting housing, workforce development, tourism, and rural infrastructure. California, which currently has 879 Opportunity Zones (two in Tuolumne County), moved its local submission deadline up five days to July 20, 2026.
July 9, 2026 · Industry Analysis
An Accounting Today analysis argues that advisors' long-standing 'hurry, the benefit ends in 2026' framing is now wrong. Under the One Big Beautiful Bill Act, Opportunity Zones are permanent, and December 31, 2026 is merely the mandatory deferred-gain inclusion date for many pre-OBBBA investors — not a program sunset. The piece flags the structural shifts: designations now run on recurring 10-year cycles (the first post-OBBBA round began July 1, 2026, effective through 2036); qualified rural opportunity funds carry an enhanced 30% basis step-up at five years versus the standard 10%; and post-2026 investments follow a rolling five-year deferral rather than the fixed 2026 date, with the 10-year fair-market-value step-up intact. The takeaway for advisors: treat OZ as an ongoing capital-gains planning regime, not a one-time, urgency-driven play.
July 9, 2026 · Investment
Two impact-investment firms — Ellavoz Impact Capital and Allivate Impact Capital — announced a strategic partnership to originate and execute high-impact Opportunity Zone commercial real estate investments across the U.S., targeting market returns alongside measurable community impact. The tie-up combines Ellavoz's community-development and asset-management focus (with residential real estate activity in Florida and New Jersey) with Allivate's structured-capital approach that aligns private, public, and nonprofit money in underinvested markets. The firms say the aim is a differentiated pipeline of OZ deals in underserved, high-growth areas — a sign of institutional impact capital gearing up as the OZ 2.0 cycle opens.
July 8, 2026 · Investment
U.S. Housing and Urban Development Secretary Scott Turner visited Hazle Township, Pennsylvania to spotlight the federal Opportunity Zone program, joining Rep. Rob Bresnahan and local officials for a roundtable on the CrossRoads Project along Route 424. The roughly $500 million redevelopment is turning former mine-scarred land into a hub for advanced manufacturing and logistics, with seven buildings under construction. Turner cited HUD figures crediting Opportunity Zones with nearly $100 billion in investment, more than 500,000 jobs, and over 400,000 homes nationally. Local leaders also raised the Greater Hazleton area's housing shortage and overcrowding.
July 8, 2026 · State Process
San Rafael, California is weighing whether to nominate its Canal district for Opportunity Zone 2.0 status — one of five eligible census tracts in the city (three in the Canal/Southeast area, one Downtown, one near Andersen/Woodland). Officials describe the incentive as a double-edged sword: it could draw investment to an economically distressed area but also accelerate displacement in the heavily immigrant Canal neighborhood. The City Council is weighing a temporary urgency ordinance that would bar 'substantial rehabilitation' as a cause for permanent eviction and require relocation assistance for affected tenants. California localities submit recommendations to GO-Biz; Treasury certifies nominations in November, with the new map effective January 1, 2027.
July 7, 2026 · Industry Analysis
A National Law Review analysis frames IRS Notice 2026-40 as 'closer to a reset than an extension' for existing Opportunity Zone investments, warning that timing and documentation now matter far more than in the program's early years. The December 31, 2026 deadline to recognize deferred gains still stands; if a sale triggers gain at the fund level, reinvesting into a new QOF within 180 days preserves the deferral but resets the 10-year clock — trading away the program's signature tax-free-appreciation benefit. Operating projects that acquire property after 2026 must finalize a written working-capital plan by year-end and meet specific thresholds; routine maintenance qualifies, but new phases or adjacent expansion generally will not. The takeaway for OZ 1.0 investors: finalize exit and reinvestment plans now.
July 6, 2026 · State Process
The Midland Development Corporation is backing an application to designate eligible Midland, Texas census tracts as Opportunity Zones under the OZ 2.0 program, following the City Council's June 23 vote to ask Gov. Greg Abbott to nominate the city's tracts. The MDC will file the application; the governor forwards nominations to the U.S. Treasury for certification, with any designation taking effect January 1, 2027. Midland County received no Opportunity Zone designations in the original 2018 round, so a designation this cycle would be the county's first.
July 2, 2026 · State Process
The Arkansas Economic Development Commission has opened nominations for the state's next round of Opportunity Zones, framing OZ 2.0 as a tool to spur private investment in economically distressed and rural communities through federal tax incentives. Under the 25% state cap, Arkansas can designate up to 78 zones, which Governor Sarah Huckabee Sanders will forward for federal approval; the state's first round produced 85 designated zones. Sanders said Opportunity Zones are transforming communities across the country and that she is eager to see investment reach the parts of Arkansas that need it most. Communities apply through the AEDC ahead of the state's nomination deadline.
July 1, 2026 · Federal Guidance
The U.S. Treasury Department formally opened the Opportunity Zone 2.0 designation cycle on July 1, 2026. Governors now have 90 days, with a single 30-day extension available, to nominate eligible census tracts drawn from the 25,332 low-income community tracts identified in Revenue Procedure 2026-14 — 8,334 of them entirely rural. By law, no state may designate more than 25% of its low-income community tracts. The new Opportunity Zones take effect January 1, 2027 and run through December 31, 2036. The move operationalizes the permanent OZ program enacted under the One Big Beautiful Bill Act, which renewed the incentive, added enhanced benefits for rural investment, and established a 10-year redesignation cycle.
July 1, 2026 · State Process
Steubenville officials are weighing which part of the city to put forward for Opportunity Zone designation, with four eligible census tracts on the table and a July 10 deadline to decide. City leaders laid out the options at an economic development meeting, framing the designation as a way to open the door to new private investment. Second Ward Councilman Tracy McManamon said the city is gathering as much information as possible before choosing. Steubenville's pick feeds Ohio's statewide OZ 2.0 nomination process.
June 30, 2026 · Investment
Madison Capital Group has launched Madison Reno Hotel QOF, LLC, a Qualified Opportunity Fund seeking about $36.2 million from accredited investors to reposition the former Harrah's Resort and Casino in downtown Reno into a 292-room hotel. The property anchors Reno Revival, a 1.3 million-square-foot mixed-use redevelopment spanning multifamily, retail, office, and entertainment. CEO Ryan Hanks pointed to Reno's demographic trends, tourism demand, and business migration as the thesis, framing the fund as a tax-advantaged way to back a transformative hospitality asset. It is one of the first new QOF launches to surface as the OZ 2.0 era begins.
June 30, 2026 · State Process
Charles County, Maryland has ranked its Opportunity Zone 2.0 recommendations, putting two Waldorf tracts and one in Newburg at the top of its five eligible census tracts. The Waldorf tracts sit within the county's Waldorf economic opportunity zone near Route 301 and Old Washington Road, while the Newburg focus is development near the Morgantown Generating Station along the Route 301 corridor. Maryland counties can submit nominations through August 7, and the governor must forward up to 113 tracts to the U.S. Treasury by September 29. Designations take effect January 1, 2027.
June 30, 2026 · State Process
The Wabash River Regional Development Authority board voted to pursue Opportunity Zone incentives for federally eligible census tracts across its west-central Indiana region — Clay, Knox, Parke, Sullivan, Vermillion, and Vigo counties. The RDA framed Opportunity Zones as a tool to draw private capital for economic development, jobs, housing, and revitalization in the low-income region. Specific tract nominations are still to come, with Indiana's statewide submission deadline set for July 17. The move aligns the multi-county authority with the state's broader OZ 2.0 push.
June 29, 2026 · State Process
Indiana has opened its Opportunity Zone 2.0 nomination window, with the public able to submit recommendations through July 17, 2026. The Indiana Economic Development Corporation is running the process; of 501 eligible census tracts statewide, Governor Mike Braun will forward up to 126 for federal designation. State officials say the revamped program leans harder into rural communities and adds accountability measures and stronger incentives to pull private capital into distressed areas. The new designations would take effect January 1, 2027 and run for 10 years.
June 26, 2026 · State Process
Presidio County commissioners in far West Texas voted to apply for an Opportunity Zone designation to draw private investment to the rural border county through federal capital-gains tax incentives. As county officials noted, the designation brings no direct grant money and requires no local tax abatement or county funding — the benefit flows to investors who deploy capital gains through qualified opportunity funds into the designated tracts. Texas' new OZ 2.0 designations take effect January 1, 2027 and run for 10 years. The vote came alongside the county's extension of a local disaster declaration tied to New World screwworm concerns.
June 25, 2026 · State Process
Wyoming's Opportunity Zones 2.0 Working Group, convened by Governor Mark Gordon, will host a public webinar on July 14 (noon to 1 p.m. MDT, via Zoom) to walk stakeholders through the differences between the legacy OZ 1.0 program and the new OZ 2.0 framework and to gather input on the state's census-tract selections. The session, led by Connor Christensen of the Wyoming Business Council and Seth Ulvestad from the governor's office, targets county commissioners, mayors, tribal leaders, economic developers, and project sponsors, and will cover the tightened federal income thresholds, the enhanced rural incentive, and infrastructure data collection. It lands as the federal nomination window opens July 1, with states' recommendations due to the U.S. Treasury by September 28, 2026.
June 25, 2026 · State Process
The Butte County Board of Supervisors voted to recommend Census Tract 24-02, running from Berry Creek east to the county line, for nomination under California's Opportunity Zones 2.0 program. Deputy Chief Administrative Officer Katie Simmons said the move is meant to spotlight the wildfire-affected Berry Creek area for private investment from corporations and individuals with capital gains to redeploy. County staff had also floated eligible rural tracts in Magalia and Butte Valley, but supervisors advanced Tract 24-02. California local governments have until July 25 to submit recommendations to the Governor's Office of Business and Economic Development (GO-Biz); designations would take effect January 1, 2027.
June 24, 2026 · State Process
The City of Winona, Minnesota is applying to designate two census tracts as Opportunity Zones under the OZ 2.0 program: a downtown tract that extends south to Lake Winona and takes in Winona State University, and an East End tract covering industrial parks and major retailers. Development Coordinator Nick Larson said the city is building on its first Opportunity Zone, which it credits with 43 new jobs, more than $250,000 in added local property taxes, and $18 million in increased property values. Applications to the governor are due June 30, with state recommendations to the federal government by the end of September and final designations expected by year-end. A third eligible tract was left out of the city's submission.
June 24, 2026 · State Process
Otter Tail County is backing Opportunity Zone 2.0 bids for two Minnesota cities, Perham and Fergus Falls, to spur housing and economic development in lower-income tracts. A 2025 housing needs analysis put Perham's median household income at about $51,944, roughly 30% below its surrounding market, and identified demand for more than 1,200 additional housing units. County commissioners prioritized Fergus Falls' application ahead of Perham's, though Commissioner Wayne Johnson said the county will work to win the designation for both communities ahead of the state's nomination deadline.
June 24, 2026 · State Process
Leaders from the Roane County Economic Development Authority attended a state onboarding meeting in Charleston to coordinate the county's push for Opportunity Zone 2.0 designation with West Virginia agency officials. The session was aimed at aligning local nominations with the state process ahead of the federal designation window. The effort continues Roane County's campaign to win OZ status as a tool to attract capital-gains-deferred investment to the rural county.
June 24, 2026 · Legislation
A provision in the bipartisan 21st Century ROAD to Housing Act, authored by Rep. Ro Khanna, would direct Opportunity Zone resources toward converting vacant office and commercial buildings into housing. It would give HUD authority to give extra weight to grant applications for projects inside qualified Opportunity Zones and authorize a blighted-building-to-housing conversion pilot under the federal HOME program to help close the gap between conversion costs and finished-home values. Advocates in San Francisco, where roughly 30 million square feet of downtown office space sits underused, see the tools as a way to make stalled conversions pencil out. The July 1 governor nomination window will determine which tracts, and which conversion projects, can tap the funding.
June 19, 2026 · State Process
The Ohio Department of Development has opened its nomination window for the federal Opportunity Zones 2.0 program, with Director Lydia Mihalik announcing the period and giving local stakeholders until 4 p.m. on July 10, 2026 to submit census-tract nominations. Ohio joins the wave of states formalizing OZ 2.0 selection ahead of the federal governor window; the state has roughly 1,032 eligible tracts.
June 19, 2026 · State Process
Kemah City Council voted unanimously on June 17 to seek state and federal support to designate large areas between FM 2094 and FM 518 as a Qualified Opportunity Zone — city documents note between one-third and one-half of Kemah's land could qualify. Leaders hope OZ status will draw private capital and capital-gains-deferred investment to the Houston-area city. Texas can nominate about a quarter of its roughly 2,420 eligible tracts.
June 18, 2026 · Federal Guidance
The Treasury Department and IRS issued Notice 2026-40 on June 18, 2026, announcing their intent to issue proposed regulations for Qualified Opportunity Zones under Internal Revenue Code sections 1400Z-1 and 1400Z-2 as amended by the One Big Beautiful Bill Act. The notice provides transitional rules in four areas while formal regulations are drafted: how the new OZ 2.0 designations work under section 1400Z-1; investor treatment of gains realized on or before December 31, 2026 versus invested on or after January 1, 2027 (including inclusion-event gain); rules for tangible property a fund acquires after December 31, 2026 in tracts that were designated under the 2017 law but not redesignated under OBBBA; and compliance tests once a zone's designation period ends. Treasury said the final regulations are expected to apply to tax years ending after June 18, 2026 — making this the most consequential federal OZ guidance since OBBBA was enacted, and the framework fund sponsors and investors will plan the 2026-to-2027 transition around.
June 18, 2026 · Investment
Officials broke ground on the Camp Howze Industrial Rail Park, a 480-acre BNSF-certified development off Interstate 35 in Gainesville that sits within a designated Opportunity Zone and is eligible for New Markets Tax Credits and Texas Chapter 403 incentives. With one anchor tenant signed and potential for up to 2,000 jobs, officials cited roughly $1.6 billion in potential investment — a concrete example of OZ-eligible industrial development as the OZ 2.0 map takes shape.
June 18, 2026 · Investment
Fort Lauderdale city commissioners approved a denser, 378-unit redesign of an 11 Andrews Avenue mixed-use tower whose development site sits in a federally designated Opportunity Zone. The site is held by Bachow Fam OZ Fund LLC, which can raise capital from investors seeking OZ tax deferral — an example of OZ capital backing downtown multifamily development in South Florida.
June 17, 2026 · State Process
The Roane County Economic Development Authority is applying to nominate two local census tracts for OZ 2.0 designation, submitting its package — with letters of support from local partners — to the West Virginia Division of Economic Development ahead of the state's July 1, 2026 deadline. Gov. Patrick Morrisey will decide which tracts advance to Treasury for certification. The move shows rural counties positioning early for the program's enhanced 30% rural QROF step-up.
June 17, 2026 · State Process
Mohave County is pushing for five new Opportunity Zone designations under OZ 2.0, targeting specific areas where housing, jobs, and infrastructure momentum is already building. The strategy reflects the program's permanence under OBBBA and the new transparency rules requiring Treasury to publish housing and economic-impact data for designated tracts. Arizona has roughly 500 eligible tracts ahead of the July 1 nomination window.
June 16, 2026 · State Process
The City of Greenwood submitted four census tracts as priority areas for OZ 2.0 designation, City Manager Julie Wilkie told City Council, noting the state's submission deadline fell on June 16. South Carolina is among the states moving ahead of the federal July 1–September 29 governor nomination window. Of South Carolina's roughly 445 eligible tracts, the state can nominate about a quarter.
June 1, 2026 · Industry Analysis
Industry analysts report a meaningful uptick in sponsor activity preparing Qualified Rural Opportunity Fund (QROF) vehicles for the January 1, 2027 effective date. With the 30% rural step-up roughly tripling the year-5 tax benefit vs standard QOFs, several established sponsors are launching dedicated rural-only funds for the first vintage under OZ 2.0.
May 22, 2026 · State Process
Business Oregon's application window for cities, counties, ports, tribal governments, and economic development organizations closed today. Of 229 eligible tracts, Oregon will nominate up to 58 — final selections expected June 2026.
May 15, 2026 · State Process
Delaware Small Business Administration finished accepting community input on OZ 2.0 tract nominations. The state's eligibility map identifies 61 qualifying tracts; Delaware can nominate up to 15.
May 13, 2026 · Industry Analysis
Investors who realized capital gains in Q1 2026 face a 180-day rollover window that puts their decision squarely on the OZ 1.0 / OZ 2.0 boundary. Gains realized in late Q1 will rollover into mid-2026 — under OZ 1.0 rules (sunset Dec 31, 2026). Gains realized in mid-Q2 2026 onward can be timed to rollover into early 2027 under OZ 2.0 (rolling 5-year deferral + 30% rural step-up).
May 6, 2026 · Federal Guidance
IRS Notice 2025-50 provides the rural designation criteria for Qualified Rural Opportunity Funds (QROFs) under OZ 2.0. Tracts qualifying as rural are eligible for the 30% basis step-up at year 5 — three times the 10% step-up available to standard QOFs. The criteria are based on USDA rural definitions and exclude tracts within Metropolitan Statistical Areas above a population threshold.
May 1, 2026 · State Process
Nebraska Department of Economic Development opened its community comment window for OZ 2.0 tract nominations. The state has 174 eligible tracts and can nominate up to 44.
April 27, 2026 · State Process
Virginia finished its public comment period on OZ 2.0 tract nominations. The state has 421 eligible tracts; final nominations of up to 105 will be submitted to Treasury during the governor window.
April 15, 2026 · State Tool
Delaware Small Business released a public interactive map showing all 61 eligible tracts and an online nomination form. Delaware becomes one of the first states with a fully public OZ 2.0 selection process.
April 13, 2026 · State Process
Oregon's application window for cities, counties, ports, tribal governments, and EDOs runs April 13 to May 22, 2026. Up to 58 of 229 eligible tracts will be nominated.
April 6, 2026 · Federal Guidance
Revenue Procedure 2026-14 provides states with the final framework for nominating census tracts under the One Big Beautiful Bill Act. Confirms 25,332 eligible tracts nationally (8,334 entirely rural), 25% cap per state, and July 1 nomination window open.
March 4, 2026 · State Process
Division of Small Business launches public-facing nomination form. 23 nominations received within 33 days.
March 2, 2026 · State Process
Nebraska Department of Economic Development opens application window. Gov. Pillen: 'Opportunity Zones are powerful tools that help create jobs and growth in areas that need new investment.'
February 26, 2026 · State Process
FloridaCommerce launches a statewide outreach tour to encourage communities to submit OZ 2.0 recommendations. 1,360 eligible tracts in Florida, 340 will be nominated.
November 21, 2025 · Industry Analysis
Authoritative summary of OBBBA's changes to the Opportunity Zone program from Plante Moran's OZ specialists. Clarifies OZ 1.0 vs OZ 2.0 transition rules and December 31, 2026 deferred gain recognition.
July 4, 2025 · Legislation
OBBBA (Public Law 119-21) makes Opportunity Zones permanent. Rolling 5-year deferral replaces fixed 2026 deadline for investments after January 1, 2027. New 30% basis step-up for qualified rural QOFs. Rolling 30-year cap on 10-year exclusion with automatic step-up.