Bill Would Require Small Business Administration to Train Field Representatives on OZ Incentive

Thursday, September 10, 2020 - 1:30pm

Reps. Dan Bishop, R-N.C., and William Timmons, R-S.C., on Aug. 28 introduced the Increasing Opportunities for Small Businesses Act of 2020 (H.R. 8120). The legislation would require the Small Business Administration (SBA) to train representatives on the opportunity zones (OZ) incentive. Trained field representatives would serve as a point of contact for OZ questions and resources, educate elected leaders within their areas and hold an annual seminar in each state to educate managers of qualified opportunity funds, qualified opportunity zone businesses, state and local government officials and other interested persons on how to benefit from OZ investments. The director of each SBA regional office would be required to submit an annual report on the success of trained field representatives, including any problems and best practices.

Register for the Novogradac 2020 Opportunity Zones Fall Virtual Conference, Oct. 22-23, for more OZ updates.