The Treasury Department recently finalized its regulations governing Qualified Opportunity Funds. Slated to take effect on March 13th, they serve as the rules of the road for investors and developers alike. The final regulation details how investments and their resulting gains will be treated for federal tax purposes, allowing Opportunity Fund investors to understand how best to structure redevelopment efforts.
The rule includes a provision that should facilitate brownfield redevelopments in Opportunity Zones by removing any lingering uncertainties about investing in these types of properties. Specifically, brownfield properties, including land and structures, will satisfy the IRS’ “original use” test.
To learn more about how these final rules will impact redevelopment projects, including brownfield properties, join Opportunity Zone expert Brad Carney for a free webinar (recorded February 14th, 2020).