Comments to the Treasury on Data Collection and Tracking for Qualified Opportunity Zones
Nonprofit affordable housing advocate Enterprise Community has published its comments on the latest round of OZ guidance.
“Enterprise believes the collection and public reporting of meaningful data on qualified opportunity funds (QOFs) and their investments into designated Opportunity Zones (OZs) are critical first steps towards ensuring the OpportunityZones tax incentive is fulfilling its intended purpose.”
Opportunity Zones‘ Biggest Myths
Kathryn Tokle, a senior fellow at the Sorenson Impact Center, dispels three common OZ misconceptions.
“America’s corporate tax rate is no longer the most controversial part of the Tax Cuts and Jobs Act of 2017,” Tokle writes. “To resolve some of this discrepancy between local excitement and national concern, let’s address some of the most common misconceptions about Opportunity Zones.”
Measuring Opportunity Zone Success
The Tax Foundation’s recommendations for evaluating OZ effectiveness.
“Those responsible for collecting data on Opportunity Zones should make sure data on the number of QOFs, as well as the amount of investments supported by QOFs and qualifying Opportunity Zone businesses, can be broken down by census tract,” the author argues.
Opportunity Zones: Can Philanthropy Provide Accountability When the Law Does Not?
The Rockefeller Foundation has announced it will provide $5.5 million to help six U.S. cities shape responsible OZ strategy.
A central goal of Rockefeller’s initiative is to provide “philanthropic guardrails,” according to foundation President Rajiv J. Shah, to make sure the law actually helps the residents of these low-income areas.
Who’s Making Grants to Help Opportunity Zones Realize Their Promise?
“Data philanthropy” might help ensure that Opportunity Zones work as intended.
The Mastercard Center for Inclusive Growth recently pledged $1 million to help city leaders prove the investment value of their geographies and make the best possible cases for achieving their long-term needs.
NES FINANCIAL OZ NEWS
Understanding Opportunity ZoneFunds and 1031 Exchanges
There are many similarities between the two tax deferral programs — and some crucial differences.
Both Opportunity Zone funds and 1031 exchanges are ways of reinvesting gains from the sale of property into other property in order to avoid current taxation and obtain valuable tax benefits. Which is the right one for you?
NES FINANCIAL OZ WINS
investUS Chooses NES Financial to Administer $100 Million Opportunity Fund
Technology and third-party oversight “critical” to success in Opportunity Zones, says investUS managing partner.
“We were aware of NES Financial’s expertise and reputation in the EB-5 market, so when we learned they had created an administration suite just for Opportunity Zones, we contacted them right away,” said Deborah Burns, Managing Partner at investUS.
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 Zone Fund Administration Suite — designed to minimize risk and maximize investor confidence.