Relating to opportunity zones; prescribing an effective date.

Requires taxpayer to increase basis of investment by 50 percent of difference between fair market value and original basis, at sale or exchange of investment in opportunity zone property held at least 10 years, in lieu of full fair market value basis allowed in federal law. Applies to tax years beginning on or after January 1, 2020. Requires addition to federal taxable income of amounts excluded as gain attributable to investment in federal qualified opportunity zone. Allows subtraction in later tax year if gain is temporarily deferred at federal level.] Directs Legislative Revenue Officer, after study and consultation with interested parties, to report to Legislative Assembly on operation,…