In The (Opportunity) Zone: Final OZ Regulations Provide Needed Clarity

4:00 - 6:00 pm
Sullivan Conference Center, Boston, MA
February 5, 2020

The long-anticipated Final Regulations under Code Section 1400Z–2 (the “OZ Act”), were issued on December 19, 2019, and the great news is that these regulations are far more flexible, pragmatic and useful than the two earlier sets of proposed regulations. In fact, the Treasury did an outstanding job of getting everything (or almost everything) right this time around. In the Final Regulations the IRS kept and improved on the best parts of the proposed regulations, while correcting most – though not all –  of the obvious problem areas.

A fair conclusion is that the OZ Act is now where it needs to be: it has gone from an intriguing idea with tantalizing tax incentives but often paralyzing uncertainty, to a fully functional tax-incentive regime that seems ready to achieve its ambitious public policy objectives.

This seminar reviewed the Final Regulations from a functional and pragmatic standpoint, looking both at high-level policy issues and specific implementation details, including the following:

Jay Darby's Outline

Panelists:

Benjamin Armour, Sullivan & Worcester 
Joseph B. Darby III, Sullivan & Worcester
Jill Homan, President, Javelin 19 Investments
Steven Kennedy, Partner, PwC
Ryan McCormick, Senior Vice President & Counsel, The Real Estate Roundtable
Nicholas Ratti, CohnReznick

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