Thank you to those that joined LOCUS, the Economic Innovation Group, and the Michigan State Housing Development Authority (MSHDA) for Understanding your Opportunity Zones. If you missed the live event, you can watch the recorded version here.
Tax Cuts and Jobs Act
Next week, join LOCUS, the Economic Innovation Group, and the Michigan State Housing Development Authority for a comprehensive discussion of the new federal Opportunity Zones program.
The Opportunity Zones program is a brand new federal program aimed at encouraging long-term, private capital investment in America’s low-income urban and rural communities with new tax incentives. Smart Growth America is working to ensure that it helps to restore and revitalize America’s lowest-income communities in a just and equitable way.
The bill’s newly created low-tax environment will undermine the value of tax credits used to build walkable urban development and transform the nature of real estate development and investment for years to come.
As Congress moves to reconcile the House and Senate versions of the Tax Cuts and Jobs Act, LOCUS’ top priority is to protect community development and affordable housing tax incentives. Join us as we reach out to the conference committee’s House and Senate Conferees and ask them to maintain these programs and incentives in the final version of the legislation.
Today, House Republicans successfully passed H.R.1, the Tax Cuts and Jobs Act, in a 227-205 vote. Thirteen House Republicans joined all Democrats in opposing the once-in-a-generation tax reform legislation. The bill includes major cuts to community development and affordable housing programs.