Comments to the IRS on the Proposed Rule for Investing in Qualified Opportunity Funds

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On December 19, Enterprise submitted comments to the IRS on the first round of proposed rules for Opportunity Zones, pointing out our main priorities at this stage in the rule-making process: 1) preventing predatory land-banking under the substantial improvement test; 2) requiring a higher “substantially all” threshold for real estate projects; 3) providing flexibility for measuring compliance with the 90-percent asset test; 4) developing regulations that encourage pairing Opportunity Zone investments with other tax credits; and 5) tracking and reporting outcomes of Opportunity Fund investments. Enterprise looks forward to working with Treasury to ensure that Opportunity Zones are successful community investment tool that brings equitable and inclusive growth to the more than 8,700 designated areas.  

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