Key Takeaways: Opportunity zones final regulations - Obtaining benefits and avoiding the pitfalls
On April 17, 2019 the second round of proposed regulations for Opportunity Zones (OZ Program) were released. The OZ Program is intended to spur investment in economically distressed communities and promote long-term economic growth in those communities through a variety of special purpose investment vehicles that provide significant tax benefits discussed in more detail below.
There is a great deal of interest in the OZ Program proposed regulations due to the expected economic impact of the program and associated tax benefits for investors. Treasury Secretary Steven Mnuchin has stated that he believes the OZ Program would encourage over $100 billion of investment in areas designated as qualified opportunity zones (OZs).
Principal, National Real Estate Tax Technical Leader, PwC US
Deals Partner, PwC US