A designation lasts ten years from the following January 1
What the document says“A designation as a qualified opportunity zone shall remain in effect for the period beginning on the applicable start date and ending on the day before the date that is 10 years after the applicable start date.”
The section rewrites the redesignated subsection (e) of section 1400Z-1 of the Internal Revenue Code of 1986 so that a designation runs from the applicable start date to the day before the tenth anniversary of it, with the applicable start date being the January 1 after the zone was certified and designated by the Secretary. It also strikes the rule for contiguous census tracts. These changes apply to areas designated after enactment.
What the document actually says“A designation as a qualified opportunity zone shall remain in effect for the period beginning on the applicable start date and ending on the day before the date that is 10 years after the applicable start date.”
A zone stays a zone for ten years. The clock starts on a set date. It ends the day before the tenth year is up.
That start date is the January 1 after the zone is named. A rule on next-door tracts is struck. The changes reach zones named after this law.
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