Opportunity No More

Last week, NY State Senate Deputy Leader Michael Gianaris announced he will introduce legislation to eliminate tax breaks for capital gains when investing in federal Qualified Opportunity Zones. 
 
“The Opportunity Zone program was intended to help economically distressed areas but is being abused to grant tax breaks to already overdeveloped neighborhoods,” said Senator Michael Gianaris. “The state should not be made to suffer due to the misuse of this program.”