By National Association of Home Builders | ProBuilder
NAHB Housing Policy Briefing | The National Association of Home Builders is a Washington, D.C.-based trade association representing more than 140,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing, and other aspects of residential and light commercial construction. For more, visit nahb.org.
Investor interest in opportunity zones is growing, and some analysts believe that billions of dollars may soon be flowing into these new investment tools designed to encourage economic growth in designated distressed communities.
Opportunity zones, created as part of the Tax Cuts and Jobs Act of 2017, have the potential to reinvigorate troubled areas nationwide. Investments into an opportunity zone flow through a qualified opportunity fund (QOF), which can take the form of a corporation or partnership. In October 2018, the Treasury Department and IRS released proposed regulations intended to enable investing in opportunity zones and to clarify key questions regarding such investments.
“Interested parties from across the country are looking for answers to questions unanswered by the Opportunity Zone law and regulations – the Treasury Department is expected to answer the call in the coming weeks with it’s next round of proposed regulations.”