Qualified Opportunity Zones (§ 1400Z–1 and –2) were created by the Tax Cuts and Jobs Act of 2017. These zones are designed to spur economic development and job creation in distressed communities throughout the country by providing tax benefits to investors who invest eligible capital into these communities. Research Qualified Opportunity Zones on the internet, and answer the following questions:

• How do Qualified Opportunity Zones encourage development? How are they funded?
• How are Qualified Opportunity Zones created? Are there any in your state?
• What tax benefits are available?

Prepare a brief written summary of your findings, and submit it via e-mail to your instructor.