The Trump administration’s second set of proposed guidelines for opportunity zones aim to make it easier to invest in business and real estate in distressed areas throughout the country and encourage economic impact.
The highly-anticipated guidance brings clarity to investors who were looking for opportunities within the zones but were likely holding back on any spending.
“Although plenty of opportunity zone funds have been created and money has moved, there are many who have delayed creating a fund and/or moving capital into specific projects due to a lack of regulatory certainty,” said Lisa Starczewski, co-chair of Tampa’s Buchanan Ingersoll & Rooney’s tax section and co-chair of the firm’s Opportunity Zones Team.
The administration said the new regulations should generate $100 billion of investments into more than 8,700 areas designated as opportunity zones in the 2017 federal tax overhaul.
The zones, determined by identifying census tracts most likely to benefit from…Read the full story from the Washington Business Journal.