[1] Opportunity Zones were proposed by Senators Tim Scott, Cory Booker, and Representatives Ron Kind, Pat Tiberi[2] and supported by Sean Parker's Economic Innovation Group.
[3] Opportunity Zones were created under the 2017 Tax Cuts and Jobs Act, signed into law by President Donald Trump.
[6] In December 2019, Treasury issued final regulatory guidance on Qualified Opportunity Fund investing.
Despite the tax benefits and broad bipartisan support,[10] the Opportunity Zones policy has its critics.
[3] Opportunity Zones are census tracts nominated by state authorities and certified by the IRS.