Secretary Carson Leading Implementation of Opportunity Zones
The White House created the Opportunity and Revitalization Council which will be in charge of implementing opportunity zones, a tax incentive program focused on offering tax breaks on capital gains invested in Opportunity Funds. These Opportunity Funds will then be available to fund projects in high-poverty areas designated as Opportunity Zones. Secretary Carson will chair this new Council that will include representatives from 13 federal agencies. San Mateo County has 4 census tracts designated as opportunity zones. In the absence of investment guidelines, it is still unclear how the Opportunity Funds can advance equity and inclusion in the designated neighborhoods. We will keep sharing updates as we learn more about this program. In an effort to ensure this program promotes equitable and healthy development, PolicyLink crafted recommendations that local jurisdictions can use as guiding principles once the program kicks off.