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Rural Opportunity Zones (Section 70421)
Illinois — state programSee program
Enhanced tax incentives for investments in Qualified Opportunity Zones (QOZs) located in rural areas. Beginning July 4, 2025, the substantial improvement threshold for property in rural QOZs is reduced from 100% to 50%, making rural QOZ investments more attractive for real estate investors.
Program details
- Type
- tax-credit
- Eligibility
- Taxpayers investing in Qualified Opportunity Zones designated in rural areas (any area other than a city or town with a population greater than 50,000, and any urbanized area contiguous and adjacent to such a city or town).
- Status
- open
- Administrator
- IRS / Treasury
Source: Illinois — state program. Confirm current terms with the administering agency before applying.