All nine components of the plan fall within the Opportunity Zones created by the Tax Cuts and Jobs Act and signed into law in December 2017. The legislation created a new section of the Tax Code (26 U.S. Code § 1400Z) to provide tax incentives for investments in targeted areas in the United States through investment vehicles called Opportunity Funds. The purpose of Opportunity Funds is to promote economic development in these select communities, known as Opportunity Zones, by offering investors substantial federal tax advantages that are only available through the new program. 

More about the Opportunity Zone Program

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