Updated Opportunity Zone Program

Last year’s One Big Beautiful Bill Act renewed and permanently expanded the Qualified Opportunity Zone (QOZ) program through the creation of “QOZ 2.0,” which will take effect on January 1, 2027. While the original QOZ program will remain active for existing investments through 2047, the updated version introduces new rules, fewer designated zones, and enhanced tax benefits for rural communities. The IRS has already issued guidance to states on the nomination process for new zones, with formal nominations beginning July 1, 2026. National Association of REALTORS® is encouraging REALTORS® to engage with local and state leaders during the vetting process to help identify strong candidates for future Opportunity Zones and support economic development efforts in their communities. LEARN MORE