The Arizona Commerce Authority says it submitted five more Opportunity Zone 2.0 tracts on October 26, 2026: three replacements for off-list tracts Treasury rejected and two additions. That brings Arizona’s nominations to 127, up from 125 filed on July 7. ACA’s published list covers 14 of 15 counties, with 59 tracts in Maricopa County and 40 rural tracts statewide. Nominations can be modified until October 28, 2026 under Rev. Proc. 2026-14, and Treasury has not certified any Arizona tract.
The update. The Arizona Commerce Authority (ACA) zones page says that on October 26, 2026 ACA “submitted three replacement tracts for Arizona’s rejected off-list tracts and two additional tracts,” bringing Gov. Katie Hobbs’ nominations to 127. Arizona filed 125 on July 7, 2026. ACA says all 127 “come from pre-approved lists from Treasury,” that they sit in 14 of Arizona’s 15 counties, and that 40 are rural for OZ 2.0 investor benefits.
Why Arizona changed its list. ACA says three of the original 125 were not on Treasury’s list of clearly eligible tracts, that Arizona made a case for each, and that Treasury rejected those three. Under section 5.04 of Rev. Proc. 2026-14, Treasury will consider a tract outside the appendix to the extent the nomination comes with a detailed analysis using current tract-level data. ACA also says another state’s successful argument for an off-list tract, applied nationwide, gave Arizona six more eligible tracts and room for two more nominations.
The numbers check out. The Rev. Proc. 2026-14 appendix lists 500 Arizona tracts. Treasury’s September 23, 2026 eligible-tract data lists 506, six more, and the revenue procedure rounds a state’s one-fourth cap up to the next whole number: 506 ÷ 4 = 126.5, so 127. We compared ACA’s published 127-tract list with the July list we had mapped. It keeps all 122 on-list tracts and drops the three off-list ones (two in Maricopa County, one in Yavapai County), which Treasury’s September 23 data also marks as not eligible. It adds five: 04013106001, 04013319103 and 04013421502 in Maricopa County, 04012020504 in La Paz County and 04025002002 in Yavapai County. Treasury’s September 23 data marks all five as eligible. ACA does not say which of the five are replacements and which are the two additions.
Where the 127 are. ACA’s list puts 59 tracts in Maricopa County (none rural), 19 in Pima, 8 in Pinal, 7 in Yuma, 6 each in Coconino and Mohave, 4 each in Yavapai and Cochise, 3 each in La Paz and Navajo, and 2 each in Santa Cruz, Apache, Gila and Graham. Greenlee County has none. Of the 40 rural tracts, 39 are outside Maricopa and Pima counties.
What happens next. The nominations are not certified zones. Section 5.03 of Rev. Proc. 2026-14 lets a state modify a nomination until October 28, 2026 and says later requests “will be denied,” so Arizona has until then to change its list. ACA says it expects Treasury to certify all 127, with zones taking effect January 1, 2027; that is ACA’s expectation, not a Treasury decision. Our Arizona zone page, OZ 2.0 tracker and OZ map still show the 125-tract July 7 filing until we finish loading ACA’s new list, so use ACA’s list for the current 127.
Original reporting by the OpportunityZoneInvest Editorial Team for Opportunity Zone Invest, an independent OZ 2.0 research site. Facts are drawn from the primary sources cited above per our editorial standards. Nothing here is tax, legal, or investment advice.
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