On April 8, 2026, the Treasury Department and the Internal Revenue Service announced guidance that permits governors, state officials, and the mayor of Washington, D.C., to nominate census tracts for designation as Qualified Opportunity Zones (QOZs). The nomination period begins July 1, 2026, and, after review by the Treasury Secretary, the new 10‑year round of QOZs will be effective January 1, 2027. The guidance includes a list of 25,332 eligible census tracts, with 8,334 qualifying for rural benefits under the Working Families Tax Cuts. The Treasury and IRS plan to issue further guidance on implementation, transition assistance for investors, and reporting rules. Governors and the mayor will receive further nomination instructions, and the IRS will work with states to ensure a smooth designation process.
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