“The term `qualified rural opportunity fund' means a qualified opportunity fund that holds at least 90 percent of its assets in qualified opportunity zone property which--”
The section defines a qualified rural opportunity fund as a qualified opportunity fund holding at least 90 percent of its assets in qualified opportunity zone property that is business property used substantially all of the holding period in a zone made up entirely of a rural area, or stock or a partnership interest in a qualified opportunity zone business meeting the same test.
What the document actually says
“The term `qualified rural opportunity fund' means a qualified opportunity fund that holds at least 90 percent of its assets in qualified opportunity zone property which--”
That sentence, in plain words
The fund must hold at least 90 percent of its assets in zone property. The tests that follow say which property counts.
What this is about
The property must sit in a zone that is all rural. That holds for most of the time the fund holds it. Stock in such a business also counts.
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Provide for reconciliation pursuant to title II of H. Con. Res. 14, Public Law 119-21, sec. 70421, 139 Stat. 223 (2025). https://www.govinfo.gov/content/pkg/PLAW-119publ21/html/PLAW-119publ21.htm
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“A qualified rural opportunity fund must hold 90 percent rural zone property,” Provide for reconciliation pursuant to title II of H. Con. Res. 14, section 70421, Sec. 70421. Read the Mandate, https://readthemandate.org/pl-119-21/proposal/sec70421-rural-fund/ (retrieved October 10, 2026).
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