The GO Zone Act of 2005 Expands the New Markets Tax Credit into Gulf Opportunity Zones
GO-ZONE (2005)
Alabama, Louisiana, Mississippi, Texas
Hurricane Katrina devastated many New Orleans, Alabama, and Mississippi communities that were already reeling from decades of poverty, unemployment, and economic stagnation. In the wake of Katrina, Congress passed The Gulf Opportunity Zone (GO Zone) Act of 2005, P.L. 109-135, which provided tax relief to The GO Zone, comprised of those counties or parishes that were deemed eligible by FEMA for “individual assistance” or “individual and public” assistance in after the storm.
