Census tracts where investors can defer and reduce capital-gains tax via Qualified Opportunity Funds. Two vintages: TCJA 2017 (currently active) and the OBBBA-eligible universe (designation period begins 2027-01-01).
TCJA 2017
Governors nominated ~8,700 low-income census tracts in 2018; Treasury certified them under IRS Notice 2018-48. Active through 2026-12-31 for the original deferral, with permanent extension under OBBBA.
OBBBA 2025
Rev. Proc. 2026-14 (Apr 2026) certifies the eligibility universe. State CEOs nominate up to 25% during a 90-day window opening 2026-07-01. New designations take effect 2027-01-01 for the next 10-year cycle. Income thresholds tightened to 70% AMI.