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OCC Releases Opportunity Zones Fact Sheet
The Office of the Comptroller of the Currency (OCC) today published a community developments fact sheet explaining the opportunity zones (OZ) incentive to national banks and federal savings associations, including how OZ activities may be used to support a bank’s community and economic development strategies. The fact sheet outlines how OZ transactions may be eligible for Community Reinvestment Act (CRA) consideration if they meet the definition of community development.
More OZ updates will be discussed at the Novogradac 2020 Opportunity Zones Fall Virtual Conference, Oct. 22-23.