### Question
How is the term qualified opportunity zone business property defined?


### Answer
The term **qualified opportunity zone business property** is defined in *26 U.S.C. § 1400Z* as the following:

> tangible property used in a trade or business of the qualified opportunity fund if—


(I) such property was acquired by the qualified opportunity fund by purchase (as defined in section 179(d)(2)) after December 31, 2017,


(II) the original use of such property in the qualified opportunity zone commences with the qualified opportunity fund or the qualified opportunity fund substantially improves the property, and


(III) during substantially all of the qualified opportunity fund's holding period for such property, substantially all of the use of such property was in a qualified opportunity zone

#### Citation:
  - *26 U.S.C. § 1400Z*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter Z-Opportunity Zones**

