The Treasury released a second Opportunity Zone guidance that greatly clarifies how investors should proceed with opportunity zone investments.
The guidance has removed a number of key uncertainties that had, until now, stalled many opportunity zone projects. Note that the regulations remain proposed and the Treasury has invited and received additional comments concerning the proposed regulations. Note also that although not yet finalized, the Treasury has provided guidance that investors may generally rely on the proposed regulations.
You can read the full second tranche guidance right here.