Opportunity Zones

Opportunity Zones were created by the Tax Credit and Jobs Act of 2017. The program is designed to encourage investors, businesses, developers, financial institutions, and other investors to reinvest capital gains into distressed census tracts to foster job creation. The benefit is deferral, reduction, and potential elimination of taxes on capital gains and not rebates or grants. The One Big Beautiful Bill of 2025 made the program a permanent part of the tax code and further refined the program.

OZ-1.0 - There were 60+ tracts in Miami-Dade County that qualified as OZ-1.0 zones, with 20-some tracts located in the City of Miami. OZ-1.0 zones expire on December 31, 2028. For a map of Opportunity Zones nationwide, visit https://www.hud.gov/opportunity-zones/resources/map.

OZ-2.0 – These new zones will be nominated by Governors starting July 1, 2026, and qualified by the U.S. Treasury by December 31, 2026, to take effect on January 1, 2027. Subsequently, OZs will be nominated and designated every 10 years.

For more information on OZs in the State of Florida, visit  https://floridajobs.org/business-growth-and-partnerships/for-businesses-and-entrepreneurs/business-resource/opportunity-zones-program

For the most common questions and answers on the OZ program in general, please visit the IRS’ website: https://www.irs.gov/credits-deductions/businesses/opportunity-zones or https://www.irs.gov/credits-deductions/opportunity-zones-frequently-asked-questions