Gulf Opportunity Zone Law and Legal Definition
According to 26 USCS § 1400M [Title 26. Internal Revenue Code; Subtitle A. Income Taxes; Chapter 1. Normal Taxes And Surtaxes; Subchapter Y. Short-Term Regional Benefits; Part II. Tax Benefits For Go Zones], the terms "Gulf Opportunity Zone" and "GO Zone" mean "that portion of the Hurricane Katrina disaster area determined by the President to warrant individual or individual and public assistance from the Federal Government under the Robert T. Stafford Disaster Relief and Emergency Assistance Act by reason of Hurricane Katrina."