Subsidy Sheet: Expanded Trump OZ Tax Breaks for Investors Unlikely to Help Rural New Yorkers - Reinvent Albany

Subsidy Sheet: Expanded Trump OZ Tax Breaks for Investors Unlikely to Help Rural New Yorkers - Reinvent Albany

Since Congress passed and Trump signed legislation that will have New York subsidizing out-of-state luxury condos forever, the press has given much attention to sweeteners for Opportunity Zones in rural areas, including extensive tracts in rural New York State (see map below for NY’s OZs). But as Bloomberg writes this week, those might not actually do much.  Under the new law, if investors invest previous capital gains into rural OZs for five ye…