Recent News

Tuesday, May 21, 2019

Legislation was re-introduced this week in a special session of the West Virginia Legislature that would allow individuals and partnerships or members of limited liability companies to exempt from state tax liability their net income directly derived from a qualified opportunity zone (OZ) businesses in the state. H.B. 113 is a variation on legislation that Gov.

Monday, May 20, 2019

Legislation to give Alabama taxpayers a state capital gains tax reduction for opportunity zone (OZ) investments, as well as to allow state funds to invest into qualified opportunity funds (QOFs) passed the House of Representatives Last week. H.B. 540 now goes to the state Senate. The legislation would create a state capital gains tax reduction for QOF investments if the fund has at least 75 percent of its qualified OZ property located in Alabama.

Tuesday, May 14, 2019

Puerto Rico Gov. Ricardo Rosselló today signed legislation creating additional territory-wide incentives for investments in opportunity zones (OZ). S.B.

Friday, May 10, 2019

California Gov. Gavin Newsom’s updated 2019-2020 budget request Thursday includes a provision to partially conform state tax laws to the federal tax code for the opportunity zones (OZ) incentive. Newsom’s budget request would make OZ investments in green technology and affordable housing match federal benefits for capital gains reduction and deferral.

Friday, May 10, 2019

The Federal Housing Administration (FHA) today announced a series of incentives to encourage affordable multifamily property owners to invest in opportunity zones (OZs). FHA will reduce application fees for certain affordable housing programs in OZs and will designate a team of underwriters to speed up the processing of those applications.

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