A Local Law to amend the administrative code of the city of New York, in relation to requiring the department of city planning to issue recommendations of which census tracts should be designated as opportunity zones

Summary

This bill would require the Department of City Planning (DCP) to study the census tracts that have been designated as Opportunity Zones, which are granted tax benefits pursuant to section 13823 of the Tax Cuts and Jobs Act of 2017 and census tracts eligible to be considered for such designation. DCP would then file a report with the Mayor, the Speaker of the City Council, the Regional Economic Development Council and the Governor containing recommendations for changes to which census tracts are designated as Opportunity Zones.

Official summary of legislation · NYC Council