Wisconsin Could Be First State To Expand Opportunity Zone Tax Incentives

Federal Community Development Program Created To Spur Development In Urban, Rural Areas

President Donald Trump touted opportunity zones during the State of the Union Address on Tuesday to improve low-income rural and urban communities.

The community development program was established by Congress with bipartisan support in 2017 to encourage long-term investments in under-developed areas across the county.

In Wisconsin, a bill is working its way through the state Legislature to make the program more enticing to investors. But critics say tax incentives for the wealthy could lead to poorer people being displaced from their neighborhoods.

Wisconsin has 120 opportunity zones that were chosen by former Gov. Scott Walker and certified by the U.S. Department of the Treasury.

...Under state Senate Bill 440, Wisconsin could become one of the first states to give even larger tax breaks to the investors who are the primary beneficiaries of this tax policy. ..


Ken Notes: For those still confused about Opportunity Zones, my guest on last weeks Development Matters Radio Show, Joe Shumow Lawyer  Instructor at UWMadison, gave one of the clearest definitions I have ever heard. it is at the end of hour one and I will pull it out as a special podcast soon.

- - Volume: 8 - WEEK: 6 Date: 2/6/2020 9:38:07 AM -