A Deeper Dive into the Second Tranche of Opportunity Zones Regulations: Benefits and Pitfalls

Part two of Novogradac’s analysis of the latest proposed rules.

The second tranche of regulations provided more guidance in a broader range of areas than many expected, which has led Treasury to mention that a third tranche of regulations may not be needed.

READ THE FULL NOVOGRADAC ARTICLE

What Charter Schools See in Opportunity Zones

The charter school movement is eyeing the tax incentives in the federal Opportunity Zones program.

For the fourth consecutive year, the growth of charter schools — publicly funded and privately managed schools that educate nearly 3.2 million students across the country — has slowed. OZ could help fund new school construction going forward.

READ THE FULL CITYLAB ARTICLE

Opportunity Zones Rules Leave Out Data Reporting, Penalty Details

Unclear whether Treasury will provide a third set of regulations; “substantial improvement” likely to be relitigated.

Proposed rules on Opportunity Zones left some holes — such as the breadth of data the government has the authority to collect on the funds and how the IRS will handle penalties. The extent to which the IRS and Treasury Department will provide answers is unclear.

READ THE FULL BLOOMBERG TAX ARTICLE

HUD Requests Public Input on How to Maximize Opportunity Zone Impacts

Advocates are concerned that Opportunity Zones could result in increased displacement of low-income families.

HUD published a notice in the Federal Register on April 17, seeking public suggestions on how it could use its existing authority to maximize Opportunity