Opportunity Zone Nomination Tool

Forms and Documents

Document	Type	Status	Availability
1559-0049 Supporting Statement Opportunity Zone Nomination Tool 2026-05-08.docx	Supporting Statement A	Uploaded 2026-05-12	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
230145	Opportunity Zone Nomination Tool	Other-	Modified

ICR Details

OMB Control No: 1559-0049	ICR Reference No: 202604-1559-002
Status: Received in OIRA	Previous ICR Reference No: 201802-1559-001
Agency/Subagency: TREAS/CDFIF	Agency Tracking No:
Title: Opportunity Zone Nomination Tool
Type of Information Collection: Reinstatement with change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 05/12/2026

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	56	0
Time Burden (Hours)	56	0
Cost Burden (Dollars)	0	0

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Abstract: The Tax Cuts and Jobs Act of 2017 (TCJA; Pub. L. 115-97) created a tax incentive for investors who reinvest eligible capital gains into Qualified Opportunity Funds (QOFs) that in turn deploy these resources into certain distressed census tracts in the 50 states, U.S. territories, and the District of Columbia (collectively, “States”) which may be designated as Qualified Opportunity Zones (QOZs). A QOF is an investment vehicle that is organized as a corporation or partnership for the purpose of investing in QOZ property (other than another QOF). QOZs are certain low-income community (LIC) eligible census tracts nominated by the States, and certified and designated by the Secretary of the Treasury (Secretary). Taxpayers who invest in a QOZ can receive certain tax benefits for their investments as an incentive to improve economic growth and job creation in underserved communities. Section 70421 of the One Big Beautiful Bill Act (OBBBA, Pub. L. 119-21), signed into law on July 4, 2025, made the QOZ incentives permanent and, pertinent to this collection of information, established new dates by which eligible census tracts may be nominated as a QOZ by the Chief Executive Officer (CEO) of a State. The designation period for the first set of new QOZs will begin on July 1, 2026, with additional rounds of designations to follow every ten years thereafter. New approved designations will become effective as of January 1, 2027, and will remain in effect for a similar ten-year period. To take advantage of this incentive, State CEOs must nominate eligible census tracts for designation as a QOZ during a 90-day period, subject to a single 30-day extension period, beginning on July 1, 2026. The Secretary certifies such nominations and designates the eligible census tract as a QOZ within 30 days of receiving notice from the CEO that the State has made its nomination. In response to these statutory requirements, the CDFI Fund will reinstate the OZ Nomination Tool, which will assist the Secretary in the certification and designation process.

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Authorizing Statute(s): PL: Pub.L. 119 - 21 70421 Name of Law: One Big Beautiful Bill Act
  

Citations for New Statutory Requirements: PL: Pub.L. 119 - 21 70421 Name of Law: The One Big Beautiful Bill Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	91 FR 11126	03/06/2026
30-day Notice:	Federal Register Citation:	Citation Date:
	91 FR 26249	05/12/2026
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Opportunity Zone Nomination Tool

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ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	56	0	56	0	0	0
Annual Time Burden (Hours)	56	0	56	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The time burden associated with the Opportunity Zone Nomination Tool remains unchanged; however, the monetized burden cost has increased. Since the last PRA approval, neither the average number of respondents nor the estimated hours per submission has changed. Over the past eight years, costs have risen due to increases in hourly wages for Chief Executives in State Government. The updated hourly rate is derived from the national median hourly wage for Chief Executives in State Government as of May 2024, as reported by the Bureau of Labor Statistics (https://data.bls.gov/oes/#/industry/999201).

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Annual Cost to Federal Government: $750,000

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 05/12/2026

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