There are 8,764 Opportunity Zones designated under the 2017 law, and Treasury lists 25,461 census tracts as eligible to become 2027 Opportunity Zones, of which at most 6,575 can be designated. As of October 30, 2026, no national list of 2027 zones has been published, so every 2027 count below is a state figure, a computed maximum or a projection, and each row says which.
Terms used here: the 2018 zones were designated under the 2017 law (OZ 1.0 maps); the 2027 zones are the first round under Public Law 119-21, running January 1, 2027 through December 31, 2036. Status labels: Official means published by a government source; Computed means this site derived it from an official file; Reported by means a named secondary source that this site has not confirmed against a primary source; Projection means an estimate of a future number. State-by-state counts are in the downloadable data, and each state page at /opportunity-zones/<state>/ (see the state index) carries that state's current status and sources.
2018 zones (OZ 1.0 map)
| Figure | Value | Source and date | Status |
|---|---|---|---|
| Opportunity Zones designated under the 2017 law, including Puerto Rico | 8,764 | IRS IR-2025-96, Sept. 30, 2025 | Official |
| Tracts in the original list | 8,762 | IRS Notice 2018-48 | Official |
| Puerto Rico tracts added later | 2 | IRS Notice 2019-42 | Official |
| Puerto Rico 2018 zones | 863 | This site's tract dataset built from Notices 2018-48 and 2019-42 | Computed |
| 2018 zones made up entirely of rural area | 3,309 | IRS Notice 2025-50, Sept. 30, 2025 (2020 census data) | Official |
| Expiration of 2018 zones | Dec 31, 2028 | IRS Notice 2026-40 sec. 2.04(2)(c)(ii) | Official |
| Expiration of Puerto Rico deemed zones | Dec 31, 2027 | IRS Notice 2026-40 sec. 2.04(2)(c)(i) | Official |
Eligible tracts and caps for 2027
| Figure | Value | Source and date | Status |
|---|---|---|---|
| Census tracts eligible for nomination (current list) | 25,461 | Treasury eligible-tract file, Sept. 23, 2026 | Official |
| Eligible tracts in rural areas (current list) | 8,362 | Treasury eligible-tract file, Sept. 23, 2026 | Official |
| Tracts added in September 2026 (none removed) | 129 | Treasury file vs. Rev. Proc. 2026-14 appendix: 128 by the median family income upper-bound method, 1 Lahaina, Maui tract by temporary displacement | Computed |
| Census tracts eligible in the April list | 25,332 | Rev. Proc. 2026-14 sec. 3.01(1), effective Apr. 6, 2026 | Official |
| April-list tracts entirely in rural areas | 8,334 | Rev. Proc. 2026-14 sec. 3.01(1) | Official |
| Share of eligible tracts a state may designate | 25% | Rev. Proc. 2026-14 sec. 2.02(3)(c), rounded up | Official |
| Designations allowed for a state with 25 to 99 eligible tracts | 25 | IRS IR-2026-45, Apr. 6, 2026 | Official |
| National maximum number of 2027 zones (current list) | 6,575 | Cap rule applied to the Sept. 23, 2026 Treasury file | Computed |
| Maximum in the 50 states and DC (current list) | 6,324 | Same method | Computed |
| National maximum on the April list | 6,544 | Cap rule applied to the Rev. Proc. 2026-14 appendix | Computed |
| Maximum in the 50 states and DC on the April list | 6,293 | Same method | Computed |
| Projected national OZ 2.0 designations | about 6,544 | Economic Innovation Group data alert, Feb. 2, 2026 | Projection |
Eligibility was based on the 2020–2024 American Community Survey 5-year data, plus 2020 Island Areas census data for four territories. The OpportunityZones.com tracker reported the September additions as 128 tracts under an "Alternate Framework" (25,460 in all); Treasury's file does not use that name and also adds the Lahaina tract, for 25,461.
| Jurisdiction | Eligible (April) | Maximum (April) | Eligible (Sept.) | Maximum (Sept.) |
|---|---|---|---|---|
| California | 2,469 | 618 | 2,479 | 620 |
| Texas | 2,420 | 605 | 2,431 | 608 |
| New York | 1,702 | 426 | 1,716 | 429 |
| Florida | 1,360 | 340 | 1,367 | 342 |
| Ohio | 1,032 | 258 | 1,040 | 260 |
| Vermont | 24 | 24 | 24 | 24 |
| Wyoming | 20 | 20 | 20 | 20 |
Ohio's maximum is 25 percent of its eligible tracts, rounded up. Vermont and Wyoming have fewer than 25 eligible tracts, so all may be designated. California's certified total (620) and Texas's nominated total (608) are above the caps computed from the April appendix (618 and 605) and equal the caps on Treasury's larger September list.
2027 designation status (as of October 30, 2026)
| Jurisdiction | Figure | Source and date | Status |
|---|---|---|---|
| National certified list | Not published | IRS Opportunity Zones hub, reviewed Oct. 20, 2026; Federal Register search Oct. 30, 2026 | Official (absence) |
| California | 620 certified | Department of Finance list, fall 2026, no exact date | Official (state) |
| Iowa | 44 certified | IEDA map layer, as of Oct 29, 2026 | Official (state) |
| Nebraska | 28 certified | State GIS layer; Governor's release, Oct 30, 2026 | Official (state) |
| Idaho | 25 certified | Idaho Commerce release, Oct 1, 2026 | Official (state) |
| New Hampshire | 25 certified | BEA location list, no date given | Official (state) |
| Georgia | 238 designated (reported); 235-tract list | Georgia DCA, as of Oct 29, 2026 | Official (state) |
| Arkansas | 78 certified (reported); no list | AEDC | Official (state) |
| Texas | 608 nominated | Governor's nominations list | Official (state) |
| Pennsylvania | 218 nominated | State map layer | Official (state) |
| Kentucky | 137 nominated | Final recommendation list; approval reported by The Lane Report, Oct. 29, 2026 | Official (state) |
| Arizona | 127 nominated | Arizona Commerce Authority list, revised Oct 26, 2026 | Official (state) |
| Indiana | 126 nominated | IEDC list | Official (state) |
| South Carolina | 113 nominated | SC Commerce list, dated Oct 21, 2026 | Official (state) |
| Massachusetts | 104 nominated | Mass.gov nominations list, Oct 7, 2026 | Official (state) |
| Oklahoma | 104 nominated | State map layer | Official (state) |
| Washington | 99 nominated | State map layer | Official (state) |
| Colorado | 93 nominated (91 on Treasury's list) | OEDIT | Official (state) |
| New Mexico | 65 nominated | EDD list, Oct 6, 2026 | Official (state) |
| Oregon | 58 nominated | Business Oregon list | Official (state) |
| Utah | 37 nominated | State announcement | Official (state) |
| Montana | 25 nominated | State map layer | Official (state) |
| Delaware | 25 nominated | Governor's announcement, Sept 28, 2026 | Official (state) |
| U.S. Virgin Islands | 18 nominated | Governor's announcement | Official (state) |
| Jurisdictions that had submitted nominations | 51 of 56 | OpportunityZones.com tracker, Oct. 30, 2026 | Reported by |
"Certified" rows are states whose official page says Treasury certified or approved the tracts and publishes the list. Georgia's Department of Community Affairs reports 238 designated but has published only its 235-tract submission list; Arkansas reports 78 certified without a list. "Nominated" rows are governors' final submitted lists; Colorado's 93 include two tracts that are not on Treasury's eligible list. Each state page carries the current status and sources.
Governors had until October 28, 2026 at the latest to nominate tracts, and Treasury must certify by November 27, 2026, or December 28, 2026 with an extension. Treasury and the IRS expect to publish the national list before January 1, 2027. The full status table is on 2027 Opportunity Zone designations.
Cost and investment figures
| Figure | Value | Source and date | Status |
|---|---|---|---|
| Federal revenue cost of the 2025 permanent renewal and enhancement, FY2025–2034 | $40.939 billion | Joint Committee on Taxation, JCX-35-25 (present-law baseline) | Official estimate |
| Cumulative equity raised by tracked QOFs since 2017 | $43.88 billion | Novogradac, report on Q2 2026 (Aug. 2026); 2,203 funds tracked, 1,758 reporting amounts | Reported by |
| New equity reported, Q2 2026 | $264.0 million | Novogradac, Aug. 2026 | Reported by |
| New equity reported, first half of 2026 | about $1.11 billion | Novogradac, Aug. 2026 | Reported by |
| Funding for Treasury's annual QOF report | $15 million | Pub. L. 119-21 sec. 70421(e)(1), available until Sept. 30, 2028 | Official |
| IRS or Treasury totals from Forms 8996 and 8997 | Not located | Searched Oct. 2026 | Not available |
Novogradac's totals cover only funds that report to it, so they understate total investment by an unknown amount. The 2025 law requires Treasury to publish an annual report on QOFs, including the number of funds, their assets, investment by industry and by tract, and jobs and residential units by tract, and, from the sixth year after enactment, outcome measures such as job creation and poverty reduction. Until those reports exist, there is no official national investment figure.
Program rules in numbers
| Rule | Number | Source |
|---|---|---|
| Days to invest eligible gain | 180 | IRC 1400Z-2(a)(1)(A) |
| Fund asset test | 90% | 26 CFR 1.1400Z2(a)-1(b)(4) |
| Business tangible property test | 70% | 26 CFR 1.1400Z2(d)-1(d)(2) |
| OZ 2.0 step-up after 5 years | 10% | Pub. L. 119-21, new IRC 1400Z-2(b)(2)(B)(iii) |
| OZ 2.0 rural fund step-up | 30% | Same |
| Rural substantial improvement threshold | 50% | Pub. L. 119-21 sec. 70421(c)(4)(C) |
| Population above which a city or town is not rural | 50,000 | New IRC 1400Z-2(b)(2)(C)(ii) |
| Late-return penalty per day | $500 | New IRC 6726(a) |
| Penalty cap per return (gross assets over $10 million) | $10,000 ($50,000) | New IRC 6726(b) |
| Intentional disregard, per day (cap) | $2,500 ($50,000; $250,000 large funds) | New IRC 6726(c) |
The penalty amounts are adjusted for inflation for returns due in calendar years after 2025, using 2024 as the base year; this site has not found the adjusted figures. For the program's other dates and rules, see OZ 1.0 vs OZ 2.0 and the compliance calendar.
Common questions
How many Opportunity Zones are there?
There are 8,764 Opportunity Zones designated under the 2017 law, including Puerto Rico, per the IRS. They expire December 31, 2028 (Puerto Rico's deemed zones December 31, 2027). The 2027 zones were still being certified as of October 30, 2026, and no national list had been published.
How many census tracts are eligible to be 2027 Opportunity Zones?
Treasury's September 23, 2026 eligible-tract file lists 25,461 census tracts eligible for nomination as 2027 Opportunity Zones, 8,362 of them rural. The April Rev. Proc. 2026-14 appendix listed 25,332; Treasury added 129 in September and removed none.
How many Opportunity Zones can there be in 2027?
Applying the statutory cap (25 percent of eligible tracts rounded up, 25 for states with 25 to 99 eligible tracts, all tracts for states with fewer than 25) to Treasury's September 2026 eligible-tract file gives a national maximum of 6,575, or 6,324 in the 50 states and DC. The April Rev. Proc. 2026-14 appendix gave 6,544, the same number the Economic Innovation Group projected.
How much money has been invested in Opportunity Funds?
Novogradac reports that the 2,203 funds it tracks had raised a cumulative $43.88 billion since 2017, as of its report on the second quarter of 2026. That is a private tally of funds that report to it, not an official figure; IRS or Treasury totals from Forms 8996 and 8997 were not located.
What does the Opportunity Zone extension cost?
The Joint Committee on Taxation estimated that the permanent renewal and enhancement of Opportunity Zones in the 2025 law would reduce federal revenue by $40.939 billion over fiscal years 2025 to 2034, against a present-law baseline.
Sources
- IRS News Release IR-2025-96 (Sept. 30, 2025)
- IRS Notice 2025-50
- IRS Notice 2018-48 (designated zones)
- IRS Notice 2019-42
- Rev. Proc. 2026-14
- Rev. Proc. 2026-14 appendix (xlsx)
- U.S. Treasury, OZ 2.0 Eligible Tracts Data Transparency file (Sept. 23, 2026)
- IRS News Release IR-2026-45
- IRS Notice 2026-40
- Joint Committee on Taxation, JCX-35-25
- Public Law 119-21, sec. 70421 (enrolled text)
- California GO-Biz: Opportunity Zones in California
- California Department of Finance, OZ 2.0 certified tracts (xlsx)
- Idaho Commerce release (Oct. 1, 2026)
- New Hampshire BEA, OZ 2.0 location list
- Iowa Economic Development Authority, 2026 Opportunity Zones layer
- State of Nebraska GIS, Opportunity Zones 2027 layer
- Georgia DCA, Federal Opportunity Zone 2.0 submissions
- Nebraska Governor press release (Oct. 30, 2026)
- Office of the Texas Governor: Opportunity Zones
- Washington Governor press release (Oct. 8, 2026)
- IRS Opportunity Zones hub