Set-Aside Alert news analysis:

New rule allows Opp Zones to be designated as HUBZones too

Final rule could negatively impact existing HUBZones; Opp Zone design said to allow wealthy areas to benefit

     A new Small Business Administration final rule would allow governor-designated areas--including recently- created Opportunity Zones--to be dual designated as HUBZones.

     Congress created Opportunity Zones in the 2017 tax bill in areas selected by governors. The goal was to provide tax breaks for investments in lower-income areas.

      The SBA final rule, set to go into effect Jan. 1, 2020, allows SBA to recognize governor-chosen "covered areas," including Opportunity Zones, as HUBZones. The covered areas are primarily rural and suburban.

     The final rule allows Opportunity Zones that previously didn’t qualify ...more....