April 12, 2022
Reading time: 2 minutes
Bipartisan legislation was introduced to both the Senate and the U.S. House of Representatives last week that would improve Opportunity Zones and push back the tax incentive’s deferral date from 2026 to 2028.
The legislation, known as the Opportunity Zones Improvement, Transparency, and Extension Act, would implement the following changes:
Senators Cory Booker, a Democrat from New Jersey, and Tim Scott, a Republican from South Carolina, who introduced the original version of the OZ program in 2016, introduced the reform package in the Senate. Representatives Ron Kind, a Democrat from Wisconsin, and Mike Kelly, a Republican from Pennsylvania, introduced it in the House.
Ashley has an extensive knowledge of the Chicago commercial real estate market. After graduating from University of Kansas with a degree in architectural studies, she worked in Kansas City as a commercial leasing agent at a 2.1 million square foot office park. While working for an institutional owner, she learned valuable skills such as client reporting, communication and accountability.READ FULL BIO
The total number of census tracts certified as Opportunity Zones by the U.S. Treasury.
Potential unrealized capital gains eligible for Qualified Opportunity Fund investment and tax treatment.
Treasury Secretary Steven Mnuchin’s estimate of private capital that will flow into Opportunity Zones.