Daines Highlights New Opportunity Zones for Rural Montana

Press Release

U.S. Senator Steve Daines today touted the 25 new Opportunity Zones that now exist across Montana thanks to the Tax Cuts and Jobs Act.

"The designation of these Opportunity Zones will help Montana flourish economically by boosting wages and creating jobs in low income communities," Daines said. "This is yet another positive impact of the Tax Cuts and Jobs Act championed by the Republicans and the Trump administration, which is putting more money in the pockets of Montanans and folks across the nation."

Under the Tax Cuts and Jobs Act's Opportunity Zone Program, low-income communities receive certain tax benefits that encourage job-creating investments in designated areas. In exchange for a lower capital gains rate that decreases based on the length of the investment, investors can put those unused dollars to work in Opportunity Zones -- distressed locations nominated by state governors and selected by the U.S Department of the Treasury.

Nationwide, about a one-fifth of the population live in communities considered distressed. In Montana, 25 census tracts qualifying as "distressed" were selected as opportunity zones by the Treasury Department.

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