Opportunity Zone

City of Hagerstown Opportunity Zones

Opportunity Zones will feature a new federal tax incentive designed to drive long-term private investment to distressed communities. Investors will be able to defer and even reduce their federal tax liability on the sale of assets if they place their gains into an Opportunity Fund, which will pool capital and support investments in small businesses and real estate within the Opportunity Zones in order to improve communities and the quality of life for residents. The program is designed to be flexible; allowing a range of different types of investments, and unlike other federal tax credit programs, there is no authorized cap on the amount of capital that could be made available through Opportunity Zone investments. Once the U.S. Treasury has approved the state's Opportunity Zone nominations, the Maryland Department of Housing and Community Development will administer the program with support from the Maryland Department of Commerce. 

Explanation of How It Works

www.opportunity-funds.com/

Opportunity Zone Map

The Department of Housing and Community Development website for Maryland Opportunity Zones.

dhcd.maryland.gov/Pages/OpportunityZones.aspx


Frequently Asked Questions

dhcd.maryland.gov/Pages/OZ-FAQ.aspx


IRS Form 8996 for Opportunity Zone Fund

www.irs.gov/pub/irs-dft/i8996--dft.pdf

IEDC OZ Web Seminar

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Guidebook How EDOs can use OZ

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