New Opportunity Zone reporting requirements aim to measure social impact; Dan Gauthier, Rose Law Group transactional attorney handling many O-Zone investments, comments

By Joshua Pollard | Forbes

How will we know whether Opportunity Zones have been successful?

That’s a question many investors and community leaders have been asking since the bill’s enactment in December 2017. The good news is, there may finally be a way to figure that out. The bad news? The official enactment may take a while.

A new proposal emerged in Congress on May 8, 2019, showing that a good faith effort is being made on the part of the original Opportunity Zone’s bipartisan panel of authors to meet the intent of the Opportunity Zone law: to create economic revitalization, increase jobs and reduce poverty. This comes just three weeks after the new guidance, which is timely by lawmaking standards.

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“The qualified opportunity zone program, as currently enacted, requires no social impact or efficacy-based reporting by qualified opportunity funds. This proposed legislation is an attempt to fill that void.”

~Dan Gauthier