Qualified Opportunity Zones: COVID-19 Updates, Proposed Legislation, New Rules and Regulations
Deferred Capital Gains and Tax Abatement Under IRC Section 1400Z; Forming Opportunity Funds; CARES Act Changes
Note: CPE credit is not offered on this program
Recording of a 90-minute premium CLE webinar with Q&A
This CLE webinar will give real estate and finance counsel a working knowledge of Qualified Opportunity Zones (QOZs) and Qualified Opportunity Funds (QOFs) created under the 2017 tax reform and clarified by regulations released in December 2019 along with updates for rules, regulations, and timelines during COVID-19 including Notice 2020-39. Additionally, the panel will discuss proposed QOZ legislation for economic stimulus through equity investment.
- Market Update in COVID-19
- QOZ History
- QOZ Creation under tax reform bill: designation by the states
- Types of QOZ investment: commercial real estate and operating businesses
- COVID-19 Rules and Regulation Updates
- Technical Corrections
- Treasury Notice 2020-39
- Additional Relief Requests
- QOZ Legislative Proposals
- Equity Stimulus
- Curtis Bill
- Final Regulations
- Important Extensions for Investors, Qualified Opportunity Funds, and Qualified Opportunity Zone Businesses
- Important Proposals for Investors
- Proposals to stimulate QOF utilization and deployment into QOZs
- Expansions of QOZs
- Investment and working capital deadlines extended under the CARES Act and recent rulings and regulations
The panel will review these and other critical issues:
- What are QOZs and how are they determined?
- What are the tax deferral and tax abatement features of qualifying investments?
- How are QOFs approved and what is the preferred entity structure?
- When must the reinvestment of capital gains be made and how long must it be held to qualify for the tax benefits?
- Timing issues and strategies for investment in QOFs
- Substantial improvement test
- What significant questions are subject to further Treasury guidance or proposed Treasury regulations?
- How might QOFs be used in real estate development and finance, and can they be twinned with other tax incentives?
Ryan D. Bailine
Mr. Bailine’s practice focuses on the development and financing of complex real estate projects, including real... | Read More
Mr. Bailine’s practice focuses on the development and financing of complex real estate projects, including real estate, land use, and regulatory aspects. He represents some of the most active and prolific developers in North America, advising on residential, commercial, industrial and mixed-use projects, including Transit Oriented Developments (TOD), affordable housing, and public-private endeavors. He routinely works with local, regional and national regulatory agencies to facilitate the permitting, construction, development, and financing of real estate projects.Close
James O. Lang
Mr. Lang focuses his practice on tax credit incentive programs and related state and federal incentive programs. He... | Read More
Mr. Lang focuses his practice on tax credit incentive programs and related state and federal incentive programs. He represents investors, lenders, community development entities, and for-profit and not-for-profit projects in complex transactions where capital stacks require enhancement through incentive financing, including renewable energy tax credits. He works with investors, lenders, project sponsors, and qualifying businesses to structure these tax credit programs along with ancillary governmental and non-governmental financing programs.Close