In Washington, D.C., Kilpatrick Townsend reports that as of early 2020, over 500 qualified opportunity funds totaling almost $70 billion of capital gains eligible for tax-advantaged treatment under the opportunity zone legislation and regulations were created and there is project level funding and private placement funding at the technology company level if located in a qualified Opportunity Zone.
There are 8764 of these zones in the US and the QOZ funds have grown in number to 500+ representing more than $70 billion in equity funds. While the majority of these funds were established for real estate investments, at least 15 of the QOFs were designated for energy investments in designated opportunity zones. These final regulations will likely spur the formation of additional QOFs for investment in opportunity zone projects by providing clarity on previously unanswered questions and applicable tests.
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This articles was originally posted at: https://www.biofuelsdigest.com/bdigest/2020/05/10/final-irs-rules-spur-development-of-new-opportunity-zone-funds/ on