Treasury opens Opportunity Zone nominations
July 02, 2026 / By ICBA
The Treasury Department announced the opening of the submission period for states to nominate communities to be designated as Qualified Opportunity Zones.
CDFI Tool: Treasury said that to assist with the process, the Community Development Financial Institutions Fund offers an Opportunity Zone Nomination Tool that governors can use to select communities and complete nominations.
Nominations: ICBA encourages community bankers to work with their governors on nominations. Decisions on candidates will be made by Jan. 1, 2027.
Background: Treasury and the IRS in April released guidance for eligible U.S. communities to be designated as QOZs. Opportunity Zones—which the One Big Beautiful Bill Act made permanent—provide federal tax incentives for reinvesting capital gains into distressed communities and will be designated every 10 years based on updated census data.
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