Opportunity Zones

IRS

IRS Submits Opportunity Zone Regulation to OMB for Review

The Internal Revenue Services submitted regulatory guidance for the Qualified Opportunity Zone Program to the Office of Information and Regulatory Affairs, a division of the White House Office Management of the Budget (OMB) on Wednesday September 12.  This proposed rule is expected to clarify several issues relating to the incentive.  The specifics of the proposed regulatory […]

NH&RA News

Council of Development Finance Agencies Issues Report on Opportunity Zones

The Council of Development Finance Agencies has issued a new report titled, “CDFA Opportunity Zones Report: State of the States.” Recognizing that Opportunity Zones have the potential to be a transformative economic development tool in distressed areas around the country, CDFA members are actively developing Opportunity Zones strategies to attract investment, identify additional development finance […]

Member News

Sullivan & Worcester & Cohn Reznick to Host Opportunity Zone Panel

NH&RA Director John Gahan and his colleagues on the colleagues on Sullivan & Worcester Opportunity Zone practice Group, in conjunction with CohnReznick, will be hosting an inter-active panel discussion on Opportunity Zones in Washington, DC on September 25.

NH&RA News

Novogradac Releases Two Additional OZ Mapping Tools

Novogradac & Company has released two online mapping tools that track tax codes of individual states and how they conform to federal tax law concerning the opportunity zones incentive. One tool tracks state law concerning personal income and the other tracks state law concerning corporate income. Both resources also link to relevant state tax code […]

IRS

Treasury Makes Final Round of Opportunity Zone Designations

The final round of submissions were approved for: Florida; Nevada; Pennsylvania; and Utah. All Opportunity Zones can now be viewed on the CDFI Fund website.

NH&RA News

Citi Community Capital Hosts Opportunity Zones Webinar June 19

Registration is complimentary but spaces are limited.

IRS

IRS Updates Opportunity Zone FAQs, 2017 Gains Eligible for Deferral

The IRS has updated the Opportunity Zones Frequently Asked Questions document to reflect that both 2017 and 2018 gains invested in Opportunity Zone Funds are eligible for deferral.

IRS

IRS Releases FAQ on Opportunity Zones, Taxpayers Will Self-Certify to Become Qualified Opportunity Fund

The document specifies that eligible taxpayers will self-certify to become a Qualified Opportunity Fund by filling out a form to attach to the taxpayer’s federal income tax return for the taxable year.

QAP Texas

Texas Releases Opportunity Zone Designations

628 census tracts in 145 counties were selected.

DC Releases Update on Opportunity Zones, Requests Deadline Extension

The Bowser Administration shared feedback received from a web-based survey regarding where to locate Opportunity Zones, a new designation that provides tax incentives to encourage investment in low-income areas.

congress-capitol

Secretary Carson Pivots to Opportunity Zones in Budget Hearing

Opportunity Zones will provide a resource similar to the gap funding from the HOME program but “on steroids”, explains Carson.

Treasury

Treasury Expands Opportunity Zone Eligibility in Revision

Data in the Opportunity Zones Information Resource has been updated from information provided in a February 8, 2018, release to include all census tracts that meet the New Markets Tax Credit Program (NMTC) Low-Income Community definition and additional contiguous census tracts eligible for designation as a QOZ.

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