Investors May Skip Puerto Rico Without ‘Opportunity Zone’ Guarantee

Puerto Rico could lose out on investors looking to funnel money into real estate projects on the island, if a bill to lock in the new incentive goes nowhere.

The increasing interest in the hurricane-ravaged island, virtually all of which is an opportunity zone, is putting pressure on the local government to pass a months-old opportunity zones tax bill that would give the island access to the same benefit as the break created in the U.S. tax overhaul. Much of the island needs rebuilding, making it particularly appealing to real estate investors.

But the bill’s passage remains uncertain months after ...