House Bill 4010 threatens to eliminate all state incentives for Opportunity Zones by disconnecting Oregon from the federal Opportunity Zone tax incentive that was included in the federal ‘Tax Cut and Jobs Act’ passed by Congress in 2017. We view this as our biggest threat to date.
We need every chamber to send us known opportunity zone projects in your area along with the results and benefits of these projects. Information should be sent to Jessica Chambers as soon as possible.
We will be compiling a list of these projects, as we expect the House Revenue Committee to consider the bill again next week. The only way to stop HB 4010 is to demonstrate that these Opportunity Zones are being widely used to support projects benefiting local communities.
OSCC joined cities and other economic development proponents on Wednesday night to testify in opposition to HB 4010. We’ve heard from many of our local chambers about the importance of maintaining Opportunity Zones as a tool to support local economic development. You can view a one-pager with talking points here.
Submit written comments regarding HB 4010 to: firstname.lastname@example.org