Since the U.S. government proposed initial rules around Opportunity Zones in October, there’s been more conversation around the initiative that seeks to incentivize development in underserved areas.
Passed along with federal tax legislation in 2017, the program provides tax credits for investors in Opportunity Funds that back development in distressed areas specifically designated as Opportunity Zones by governors across the country.
While some details are still coming to light, Maryland has a total of 149 such areas that were approved – which is at least one in every jurisdiction – and so the state is looking to provide additional help alongside the incentives that will be offered by the federal government.
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