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Opportunity Zones Newsletter Week of April 29, 2019

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 OpportunityZones benefits for residents and their communities.

READ THE FULL NLIHC ARTICLE

NES FINANCIAL OZ NEWS

California Opportunity Zone Funds: A Developing Compliance Landscape

The potential benefits of OZ investment are huge — so why is California late to the party?

NES Financial CEO Michael Halloran analyzes emerging statistics from the company’s large Opportunity Zone market share, finding that OZ fund formation and investment in California is not keeping up with other states. Why might this be? (Originally published in The Registry.)

READ THE FULL NES FINANCIAL ARTICLE

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The Three Keys to Long-Term Success in the Opportunity ZoneProgram

An article from NES Financial’s Reid Thomas.

“Stakeholders in the Opportunity Zone industry have an unprecedented chance to establish a regimen of standards and best practices to prevent fraud and abuse in this burgeoning industry, and to guard against misconceptions that could ultimately harm public perception of the program,” Thomas says.

READ THE FULL NES FINANCIAL ARTICLE

NES Financial: The leader in Opportunity Zone fund administration.

Based on our industry-leading experience in other specialized financial markets, we’ve developed the first purpose-built Opportunity ZoneFund Administration Suite — designed to minimize risk and maximize investor confidence.

LEARN MORE ABOUT HOW NES FINANCIAL’S OZ FUND ADMINISTRATION SUITE COULD HELP YOUR FUND.