Davis touts 'Opportunity Zones' provided by tax law

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DECATUR, Ill. (WAND) Congressman Rodney Davis gathered with Decatur officials to tout the designation of several Central Illinois communities as opportunity zones.

The designation, allowed under the 2017 Federal Tax Law, gives tax incentives for investments in distressed communities.

Areas of our country that have a lot of extra capital to invest are looking for incentives to be able to get a return on that investment,” Davis said. “Now we're going to give them a better return on that investment by not charging them capital gains taxes or reduced capital gains tax rates.”

A map showing those opportunity zones is available here. It shows such zones in Springfield, Decatur, Champaign, Shelbyville, Sullivan, Pana, Clinton, rural Douglas County and other areas.

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