By Howard Fischer | Capitol Media Services via Tucson.com
A select group of census tracts around Arizona is going to get what could be a crucial economic boost later this month.
A provision buried deep in the new federal tax law allows governors to designate some areas as eligible to become “opportunity zones.”
What’s significant is those that end up on the list are likely to become magnets for new investment.
“If you are facing capital gains taxes, this is a new investment vehicle that should be of intense interest. If you invest your gains in the right area of Arizona you can not only enjoy the success of your investment but, if you keep that investment for a decade, you can totally avoid capital gains. It should bring a monumentally positive shift in investment to parts of Pinal County and throughout Arizona.”