The Administration Released Its Proposed Opportunity Zones Rules

The Administration released its proposed Opportunity Zones rules on October 19, 2018. More information can be found on the U.S. Treasury web site. The proposed rule is very broad – all types of capital gains and individuals, partnerships and corporations will be eligible. The proposed rule also addresses a big issue about the ten year holding period by proposing to allow Opportunity Zone investments to get the full 10 year tax benefit so long as they are made by 12/31/2026 – not by 12/31/2018. If approved, this extension would have a huge impact on investment scale and give California communities much more time to get ready. We will be aiming to work with other states where possible to comment on a bi-partisan basis to maximize the impact of our comments for program improvements and clarifications. Please feel free to send your comments and concerns via our contact form.