OZ 2.0 is happening now.

The Opportunity Zone program entered a new era on July 4, 2025 when the One Big Beautiful Bill Act (OBBBA, Public Law 119-21) was signed into law. OZ is now permanent, and 2026 is the year the new designation map takes shape. This page tracks what’s happening week by week — Treasury guidance, governor filings, state eligibility tools, fund activity, and anything else that matters for OZ investors.

Where things stand today

As of April 17, 2026:

• OBBBA is law. Signed July 4, 2025. OZ is a permanent part of the Internal Revenue Code.
• Treasury published the OZ 2.0 eligibility framework. Final guidance on governor nomination process released earlier in 2026.
• Novogradac published a national OZ 2.0 eligible tracts map identifying approximately 25,000+ census tracts that could be designated.
• Delaware launched its state eligibility mapping tool on April 15, 2026 — joining a small but growing list of states with public OZ 2.0 selection tools.
• Governor nominations open July 1, 2026. The 90-day window runs through September 30, 2026. Each state can nominate up to 25% of its eligible tracts.
• New OZ 2.0 designations effective January 1, 2027. Investments into QOFs on or after that date receive OZ 2.0 benefits.
• December 31, 2026 deferral recognition date is unchanged for existing OZ 1.0 investments.

The OZ 2.0 calendar

NOW (April 17, 2026)          July 1, 2026       Sept 30, 2026      Jan 1, 2027
         |                         |                  |                 |
   States prepare         90-day governor     Treasury reviews     OZ 2.0 effective
   selection criteria     nomination window   & certifies          New QOFs get
   Launch eligibility     opens nationwide    nominations          new benefits
   tools

What to watch for in the next 90 days

Before July 1, 2026:

• State economic development offices finalizing internal selection processes
• Additional states launching public eligibility mapping tools
• Treasury expected to release additional guidance on qualified rural QOFs and the enhanced 30% rural bonus
• OZ fund sponsors forming new QOFs positioned for OZ 2.0 deployment

July 1 – September 30, 2026 (governor nomination window):

• Each state submits final tract nominations to Treasury
• Rolling daily coverage of filings — which states file first, which tracts are selected, and any surprises
• Real-time updates to the eligibility map as nominations are filed

October – December 2026:

• Treasury review and certification of state nominations
• Publication of the final OZ 2.0 designated tract map
• Fund sponsors finalizing their OZ 2.0 investment strategies

January 1, 2027:

• OZ 2.0 designations officially take effect
• First wave of QOF investments under the new rules

Recent developments

April 15, 2026 — Delaware launches state eligibility tool

Delaware Small Business released the Delaware Opportunity Zone 2.0 Mapping Tool, a public interactive map showing all Delaware census tracts eligible for OZ 2.0 designation. The tool lets Delaware residents, developers, and investors check whether specific properties fall within eligible tracts ahead of Governor Matt Meyer’s nomination filing.

Delaware is the 15th state to publish a public OZ 2.0 eligibility tool.

April 1, 2026 — Treasury publishes final OZ 2.0 nomination framework

Treasury issued its final framework for governor nominations under OBBBA. Key provisions:

• 90-day window opens July 1, 2026
• Each state may nominate up to 25% of eligible tracts
• Contiguous tract option eliminated
• Median family income threshold tightened from 80% to 70%
• Puerto Rico blanket designation eliminated

March 12, 2026 — Novogradac publishes national eligible tracts map

Novogradac, a leading tax and accounting firm specializing in community investment tax credits, released a national map of approximately 25,000+ census tracts eligible for OZ 2.0 designation under OBBBA’s tightened criteria. Expected reduction from 8,764 OZ 1.0 tracts to approximately 6,500 OZ 2.0 tracts.

November 21, 2025 — Plante Moran publishes OZ 2.0 planning guide

Plante Moran released an authoritative summary of OBBBA’s changes to the OZ program, clarifying that existing OZ 1.0 investments are not migrated to OZ 2.0 rules and that the December 31, 2026 deferred gain recognition date is unchanged.

July 4, 2025 — One Big Beautiful Bill Act signed into law

OBBBA (Public Law 119-21) signed by President Trump. Opportunity Zones made permanent. Rolling 5-year deferral replaces fixed 2026 deadline for investments made on or after January 1, 2027. New 30% basis step-up for qualified rural QOFs. Rolling 30-year cap on 10-year exclusion with automatic step-up.

Track your state

The National OZ 2.0 Nomination Tracker shows the selection process status for all 50 states plus the District of Columbia and U.S. territories. Each state has its own zones page with:

• Current selection status
• Published selection criteria (if available)
• Link to state eligibility mapping tool (if launched)
• Number of eligible tracts
• Expected nomination timeline
• Email signup for state-specific alerts

Subscribe to updates

OZ 2.0 is a calendar-driven event. The nomination window opens July 1, 2026 and runs 90 days. State filings will happen on a rolling basis, and each one is a material event for investors, developers, and real estate sponsors with interests in that state.

Subscribe for OZ 2.0 alerts — choose the states you want to follow, and we’ll send you an email when each state files its nominations.

Sources: Plante Moran: The OBBB and Opportunity Zones 2.0; Governing: A Strategic Playbook for Opportunity Zones 2.0; Treasury: Qualified Opportunity Zones; State of Delaware: DSB Launches OZ 2.0 Mapping Tool; Novogradac OZ 2.0 resource center. Not tax advice.