The Tax Cuts and Jobs Act of 2017 created a new community development program that provides capital gains tax relief to private investment within “qualified opportunity zones.” Under the Act, Mississippi Governor Bryant may nominate up to 100 eligible census tracts for designation as “qualified opportunity zones” in the State of Mississippi.

The Mississippi Development Authority has launched a portal allowing Mississippi’s cities and counties to apply to have eligible census tracts considered for inclusion in Governor Bryant’s nominations for the State of Mississippi. MDA will begin reviewing applications on March 5, 2018 so cities and counties wishing to apply should not delay.

Interested stakeholders may want to reach out to their local city and county representatives to encourage participation in the application process.