Opportunity Zone Viewer identifies eligible census tracts

Under current law, as amended by Public Law 119-21, a census tract is defined as a low-income community and qualifies for Opportunity Zone designation if it meets either of the following tests:

• Income-only test — The tract has a median family income that does not exceed 70% of the statewide median family income (for non-metropolitan tracts), or 70% of the metropolitan area’s median family income (for metropolitan tracts).
• Poverty + income test — The tract has a poverty rate of at least 20%, and the tract has a median family income that does not exceed 125% of the statewide median family income (for non-metropolitan tracts) or 125% of the metropolitan area median family income (for metropolitan tracts).

The “non-low-income contiguous tract” provision from the previous guidelines has been eliminated. Every tract must now qualify on its own merits under one of these two tests.

The bill gives Opportunity Zone policy permanent status and stipulates that governors must select new zones every 10 years starting July 1, 2026. New zones will go into effect every 10 years starting Jan. 1, 2027.