Recent News

Wednesday, July 8, 2020

Legislation introduced in the House of Representatives this week would designate all of Puerto Rico as an opportunity zone (OZ). Commissioner Jenniffer Gonzalez-Colon, R-P.R., introduced H.R. 7492. A provision in 2018 federal budget legislation allows every low-income census tract in Puerto Rico to be designated an OZ (rather than 25 percent of such tracts elsewhere). The text of H.R. 7492 was unavailable.

Thursday, June 25, 2020

Federal regulatory agencies today finalized a rule that excludes qualified opportunity funds (QOFs) from the list of banking entities forbidden to invest in covered funds, a ruling that allows banks to participate in the federal opportunity zone (OZ) incentive.

Wednesday, June 17, 2020

The White House Opportunity and Revitalization Council today issued a report of best practices for the federal opportunity zones (OZ) incentive.

Wednesday, June 10, 2020

The U.S. Department of Treasury and the Internal Revenue Service (IRS) today posted a notice seeking recommendations to be included on the 2020-2021 Priority Guidance Plan. The Priority Guidance Plan identifies guidance projects that the Treasury and the IRS intend to focus on from July 1, 2020, through June 30, 2021.

Thursday, June 4, 2020

The Internal Revenue Service today released Notice 2020-39, providing guidance for investors in the opportunity zones (OZ) incentive in the wake of the COVID-19 pandemic. The guidance provides that taxpayers whose last day of the 180-day period to invest capital gains in a qualified opportunity fund (QOF) falls on or after April 1, 2020, and before Dec. 31, 2020, to postpone the last day to Dec. 31, 2020 (Notice 2020-23 had earlier extended that deadline to July 15).

Novogradac Opportunity Zones Mapping Tool
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Find opportunity zones by zip code, census tract, and more.
Opportunity Zones Working Group
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The Opportunity Zones Working Group suggests consensus solutions to technical Opportunity Zones incentive issues.
Opportunity Funds Listing
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A listing of funds formed to invest in opportunity zones.
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