RP-18-16: Qualified Opportunity Zones

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February 8, 2018

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Issue Number: RP-2018-16

Inside This Issue

Revenue Procedure 2018-16 provides guidance to the Chief Executive Officers (CEOs) of any State, about how certain population census tracts may be designated as Qualified Opportunity Zones for purposes of §§ 1400Z–1 and 1400Z–2 of the Internal Revenue Code. Specifically, this revenue procedure clarifies the nomination process under § 1400Z-1 by informing the CEOs of each State which census tracts in their jurisdictions are eligible to be nominated to be Qualified Opportunity Zones and by providing the requirements and due dates for the nomination, certification, and designation of the zones. Additionally, this revenue procedure provides a safe harbor for applying the 25 percent limitation to the number of population census tracts in a state that may be designated as Qualified Opportunity Zones.

Revenue Procedure 2018-16 will be in IRB 2018-09, dated 2/26/2018.

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