OZ MAGAZINE 2022 Top 25 Influencers issue 2.2 | Page 44

44 OPPORTUNITY ZONE MAGAZINE | ISSUE 2 • VOLUME 2

HENRY CUELLAR

U . S . REPRESENTATIVE ( D-TX )

Serving his ninth term in the U . S . House of Representatives , Congressman Henry Cuellar represents Texas ’ 28th congressional district . He is the Vice Chair of the House Appropriations Subcommittee on Homeland Security , while also serving on the Defense Subcommittee and the Subcommittee on Agriculture , Rural Development , Food and Drug Administration , and Related Agencies . Congressman Cuellar was named Chief Deputy Whip for the 117th Congress . He completed a master ’ s degree in international trade at Texas A & M International University ( TAMIU ) and earned both a Juris Doctor and Ph . D . in government from the University of Texas at Austin . Cuellar previously served as a Texas State Representative and Texas Secretary of State .

WHAT DO YOU THINK SHOULD BE CHANGED WITH THE OZ LEGISLATION TO FURTHER IMPROVE THE INDUSTRY ?
Opportunity Zones allow private organizations to invest in economically underserved areas in exchange for tax breaks . This is not just good for business , it is good for communities in South Texas that have historically lacked access to capital and investment . We must continue to provide private organizations with the resources to continue their investments by removing unnecessary red tape and bureaucratic processes . These zones are critical for the economic development of South Texas and will be imperative as we continue to recover from the COVID-19 pandemic .

MIKE DEWINE

GOVERNOR , OHIO

Ohio Governor Mike DeWine has had a long , distinguished career in public service , starting with his election to Greene County prosecuting attorney and continuing with his work as a state senator , U . S . congressman , Ohio ’ s lieutenant governor , a U . S . senator , and Ohio ’ s attorney general . As Governor , DeWine has devoted resources and staff to building the workforce and supporting communities . Through the state ’ s 2020-2021 biennium budget , Ohio became one of the first states to create a state tax incentive to attract more investment in Ohio ’ s 320 Opportunity Zones . The Ohio Opportunity Zones Tax Credit Program provides a 10 %, non-refundable income tax credit to those who invest in Ohio ’ s Opportunity Zones .

WHAT DO YOU THINK SHOULD BE CHANGED WITH THE OZ LEGISLATION TO FURTHER IMPROVE THE INDUSTRY ?
In order to increase the ability of developers to take advantage of Opportunity Zones , the federal government should consider extending or enhancing current Opportunity Zone benefits , as the 15 % stepped-up basis benefit has already expired . Along with the Ohio Opportunity Zone Tax Credit , this could potentially increase investment in Ohio ’ s Opportunity Zones .
OPPORTUNITYZONE . COM