The Opportunity Zone program, established in 2017 and administered by the U.S. Department of Treasury, has been updated and made permanent through U.S. House Resolution 1—the One Big Beautiful Bill Act—passed by Congress in 2025. The renewed Opportunity Zone 2.0 program will take effect January 1, 2027. OZs are designed to stimulate long-term private investment in low-income urban and rural communities by allowing investors to realize significant federal tax benefits through investing capital gains in Qualified Opportunity Funds.