Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

January 9, 2018

Bronin seeks favorable tax status for 37 Hartford neighborhoods

Photo | HBJ File Hartford Mayor Luke Bronin.

Hartford Mayor Luke Bronin this week asked the state to nominate most Hartford neighborhoods for designation as “Opportunity Zones” under a new provision in the federal tax law.

The law included the bipartisan Investing in Opportunity Act, which allows governors to designate “Opportunity Zones” where private investment will receive preferential federal tax treatment.

In a letter to Gov. Dannel P. Malloy, Bronin identified 37 of 40 Hartford census tracts eligible for such designation. The deadline for nomination is in March, he said.

The new law could help “spur private investment in long-disadvantaged communities in the Capital City,” Bronin said.

The act is aimed at revitalizing economically distressed communities by allowing investors to defer capital gains taxes if they invest in state-designated Opportunity Zones.

Sign up for Enews

Most Recent

Most Recent

0 Comments

Order a PDF