Lake City: Zone of opportunity
Efforts to get the Wabasha County portion of Lake City designated as an Opportunity Zone appear to have paid off.
What that means, however, remains to be seen.
The federal tax bill signed into law in December of 2017 included a provision to give tax breaks on investments in low-income areas designated as Opportunity Zones.
Governors of each state were allowed to recommend 25 percent of their state’s eligible census tracts to the Treasury Department for inclusion in the program.
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