The Tax Cuts and Jobs Act of 2017 established Opportunity Zones as a new tool for community development which provides tax incentives to help unlock investor capital to fund businesses in underserved communities.  Pursuant to the Act, Governors of each State are allowed to nominate eligible census tracts in their State for designation as “qualified opportunity zones.”  The deadline for Governors to submit their nominations to the U.S. Department of Treasury is March 21, 2018, unless a 30-day extension is requested.  Today, the Governor’s office launched a portal on the Mississippi Development Authority’s website allowing cities and counties to propose census tracts for inclusion in the nominations via an application process. According to MDA’s website, application review by the state will begin no later than March 5, 2018.  States across the country are putting together portals similar to the one launched by the Mississippi Development Authority.  For more information regarding submission of applications for census tracts seeking Opportunity Zone designation, click here.