ATLANTA (April 17, 2018) | Sen. Jeff Mullis (R – Chickamauga) announced that census town (CT) 202 in Walker County is included in the U.S. Department of Treasury’s federal Opportunity Zone Census Tracts.
“I’m very pleased to announce this designation of a census town within the city of Rossville,” said Sen. Mullis. “Members and leaders in our community have worked hard to help make this city such a desirable place to work and live and I am confident that Rossville will continue to be a city on the rise. This is a step in the right direction for continuing our economic and communal growth and I am thankful for all of those who had a hand in making this possible.”
Sen. Mullis has been working with Rossville Mayor Teddy Harris and Elizabeth Wells of Rossville, among many others to designate CT 202 in Walker County. Back in March 2018, the Georgia Department of Community Affairs (DCA) announced that “Governor Nathan Deal has nominated 260 census tracts across the state to participate in the Federal Opportunity Zones program.” The nominated census tracts were for “some of the most concentrated poverty in the state and are found in both rural and metropolitan areas, with approximately 60% rural and 40% urban.” Qualified Opportunity Zones retain their designation for 10 years, where after the 10 years investors with an investment through the Qualified Opportunity Fund are eligible for an increase on the basis equal to the fair market value of the investment on the date it is sold.
For the full text of the governor’s official release please click below:
For the full announcement by the U.S. Department of Treasury please follow the link below:
https://home.treasury.gov/news/press-releases/sm0341
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For Immediate Release:
April 16, 2018
Ines Owens, Director
ines.owens@senate.ga.gov
404.656.0028