"The Opportunity Zones program encourages long-term investment and job creation in low-income areas of the state, by allowing investors to re-invest unrealized capital gains in designated census tracts." (State of Illinois)
"On April 20, 2018, Governor Bruce Rauner submitted the allowable 327 of the 1,305 qualifying census tracts to the federal government for inclusion in the Opportunity Zone program." (State of Illinois)
The OZ program was established in the Tax Cuts and Jobs Act of 2017, enacted on December 22, 2017. States submit to the Treasury their list of Census tracts they want designated. View the national map.
Investors and property developers should read this interview on Bisnow that explains how Opportunity Zones are supposed to work. This white paper from Economic Innovation Group illustrates the additional income earned because of investing in a Qualified Opportunity Fund. OOFs must have 90 percent of their assets in an OZ.