Groups Submit Letters Concerning Ongoing OZ Guidance

Monday, October 15, 2018 - 12:00PM

Two organizations submitted letters concerning the Treasury Department’s ongoing review of proposed guidance for opportunity zones (OZs). Commerce officials from 12 states made a series of recommendations for OZ guidance, including a grace period for opportunity funds before being subjected to the 90 percent qualified property allocation test and the definition of “substantial improvement” of qualified OZ business property. Real estate developer Tradepoint Atlantic authored a letter urging priority consideration for certain zero-population census tracts for OZ designation, due to their potential for job creation.

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