Subsidy Sheet: Albany inaction = Trump Opportunity Zone extension costing NY hundreds of millions - Reinvent Albany

Subsidy Sheet: Albany inaction = Trump Opportunity Zone extension costing NY hundreds of millions - Reinvent Albany

First, the bad news: The Trump administration included Opportunity Zones in its draft federal budget, and the program is still awful. But there’s good news – tax avoiders looking to gorge themselves at the OZ trough are disappointed. Here’s why: The initial tax breaks investors can receive are less than in the original program. There will be more rural zones, which means less luxury real estate (and less returns for investors). Only $10,000 of …