NATCHEZ &8212; A windfall in the aftermath of Katrina, the Gulf Opportunity Zone Act of 2005 will have economic impact on Natchez and Adams County as well as on more than 40 other counties and many communities in Mississippi.

The federal legislation, signed into law in December, provides tax incentives that are broad and far-reaching, said Laura Godfrey, president and CEO of the Natchez-Adams County Chamber of Commerce.

On June 1, 10 a.m. to noon, the Chamber and the Natchez-Adams County Economic Development Authority will sponsor a seminar at the Natchez Convention Center to provide details to homeowners, business owners and anyone else interested in the GO Zone details.

Of particular interest to people with historic properties is the increase in the rehabilitation tax credit for restoration of historic buildings.

Mimi Miller, director of historic preservation at the Historic Natchez Foundation, said the new legislation &8220;took the standard 20 percent tax credit and raised it to 26 percent.&8221;

The tax credits apply to qualifying expenses incurred from Aug. 28, 2005, through Dec. 31, 2008.

Miller cautioned that owners of historic buildings should be sure their site and the proposed work qualify before starting any rehabilitations, however.

In addition to the federal legislation, the state also has provided incentives for renovation to historic buildings, with tax credits of 25 percent available under that new law, Miller said.

&8220;The state law is retroactive to any work begun after January 1 this year,&8221; she said.

Many Natchez property owners already are aware that their rehab projects qualify for the GO Zone tax credits. Others may not, Miller said.

The Foundation also plans to conduct a workshop on the new tax credits available, both federal and state.

For the GO Zone workshop in June, Godfrey said the Chamber and EDA leadership believed explanations were in order to help the average person understand what is available.

Benny Jeansonne, a CPA who is knowledgeable about the GO Zone Act, will lead the seminar, Godfrey said.

&8220;The Go Zone Act is not the easiest thing to read and understand,&8221; she said. &8220;We wanted to break it down so people can understand it, to make it more user friendly.&8221;

Jeff Rowell, director of the Natchez EDA, said some people might think the GO Zone refers only to industrial sites. &8220;There are a lot of incentives for businesses, large and small,&8221; he said. &8220;From the economic development standpoint, we&8217;re notifying the public of these incentives and encouraging them to look more deeply into it.&8221;

Godfrey said Natchez is fortunate to fall into the zone. &8220;And anyone can use this.&8221;

In addition to Adams County, other nearby counties in the zone are Amite, Claiborne, Franklin, Jefferson and Wilkinson.