Resources
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 well as special rules for an investment in a QOF helf by a taxpayer for at least 10 years.
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.
House Dear Colleague Letter on FY 2020 HOME Funding
The letter below, signed by 103 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.
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).
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...
Meadows Introduces Two Bills to Expand Opportunity Zones
Representative Mark Meadows (R-NC) introduced two bills that would expand the Opportunity Zone (OZ) tax incentive. H.R. 1851 would allow states and territories to designate new OZs, with the Treasury Department’s approval, every 10 years.
IRS Publishes Revenue Procedure 2019-17 Regarding General Public Use Requirements for Multifamily Housing Bonds
On April 3, the Internal Revenue Service (IRS) issued Revenue Procedure 2019-17, which provides guidance regarding the general public use requirements for qualified residential rental projects financed with tax-exempt bonds.
Fiscal Year 2020 Project-Based Section 8 Rental Assistance Support Letter
The letter below, from Senators Merkley (D-OR) and Menendez (D-NJ), requests support from the Senate Subcommittee on Transportation, Housing and Urban Development, and Related Agencies to provide $12.8 billion for Project-Based Rental Assistance in FY 2020, in order to fund the renewal of existing contracts for a full twelve-month term.
Dear Colleague Letter for HOME FY 2020 Budget
The letter below, from Representative Marcia Fudge, requests support from the House 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.
