On May 17, 2018, Terri Ludwig, CEO of Enterprise Community Partners, testified before Congress concerning the new Opportunity Zones provision that included in the Tax Cuts and Job Acts of 2017.
Posts on Opportunity Zones in NJ and theri impact on supportive housing and community development.
Last week the IRS also published frequently asked questions (FAQs) about the Opportunity Zones tax incentive and clarified that a taxpayer can self-certify to become a qualified opportunity fund.
On March 22, 2018, New Jersey Governor Phil Murphy’s office announced that there are 75 municipalities that have been recommended by the state’s Department of Community Affairs to become Opportunity Zones.
The Opportunity Zones Program is the first new community development tax incentive program enacted since the Clinton administration.