This document reference the Opportunity Zone tax incentive as a powerful tool meant to bring private capital to undeserved communities. View Form […]
The White House Opportunity and Revitalization Council: Completed Program Targeting Actions
IRS Form 8996: Qualified Opportunity Fund
The IRS Form 8996 is used to clarify that a corporation or partnership is a Qualified Opportunity Fund and to annually report whether the fund met the investment standard during its tax year. View Form […]
White House Fact Sheet on How Opportunity Zones Address Geographic Inequality
This document contains a White House fact sheet on addressing geographic inequality by promoting investment in opportunity zones. View Document […]
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Request for Information on Data Collection and Tracking for Qualified Opportunity Zones
On April 16, 2019, the Department of the Treasury (Treasury) published this Notice and Request for Information to seek public input on the development of public information collection and tracking related to investment in Qualified Opportunity Funds (QOFs). Section 13823 of the Tax Cuts and Jobs Act, Pub. L. 115-97, 131 Stat. 2054, 2184 (2017) (TCJA), […]
IRS Second Set of Proposed Regulations: Investing In Qualified Opportunity Funds, April 2019
April 17, 2019, the Treasury Department released its second set of proposed regulations providing guidance on the Opportunity Zone (OZ) provisions of the Internal Revenue Service Code section 1400Z-2. The second set of proposed regulations address gains that may be deferred as a result of a taxpayer’s investment in a qualified opportunity fund (QOF), as […]
IRS Second Quarter Update of 2018-2019 Priority Guidance Plan
On April 5, the Department of the Treasury (Treasury) and Internal Revenue Service (IRS) issued their second quarter update to the 2018-2019 Priority Guidance Plan (PGP) which sets forth guidance priorities for the Treasury and the IRS based on public input and deregulatory policies. View Document […]
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House Dear Colleague Letter on FY 2020 HOME Funding
The letter below, signed by 130 Members of Congress, requests support from the House Committee on Appropriations Subcommittee on Transportation, Housing and Urban Development, and Related Agencies to restore the HOME Investment Partnerships Program (HOME) with at least $1.5 billion for fiscal year (FY) 2020. View Letter […]
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Senate Dear Colleague on FY 2020 HOME Funding
This letter was sent to Chairwoman Susan Collins and Ranking Member Jack Reed of the Senate Subcommittee on Transportation, Housing and Urban Development, and Related Agencies (THUD) in support of the HOME Investment Partnerships Program (HOME). […]
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Senators Rubio and Scott Introduce Legislation to Create Special Disaster Opportunity Zones
On April 3, Senators Marco Rubio (R-FL) and Rick Scott (R-FL) introduced the Disaster Opportunity Zone Act, which would allow governors to nominate areas affected by 2018 hurricanes and California wildfires as opportunity zones (OZs). The legislation would allow California, Florida, Georgia, North Carolina, and South Carolina governors to select the greater of 25 or […]