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Senate Responds to One Big Beautiful Bill with New Rules on Opportunity Zones
“One Big Beautiful Tax Bill” and Opportunity Zones (OZ)
We have now seen the Senate Finance Committee version of the “One Big Beautiful Tax Bill,” and it bodes well for opportunity zones (OZ) – an economic development tool designed to spur economic investment in distressed communities while providing tax breaks to investors.
Since the program was introduced through the Tax Cuts and Jobs Act of 2017, OZ funds have raised billions of dollars. Now, the federal government appears poised to expand and refine the program.
Our partner Phil Jelsma, chair of our tax practice group, details the changes to the OZ program in the Senate Finance Committee’s version of the Bill in a recent article published in The Los Angeles Daily Journal and The Daily Transcript.
The full article can be read in the The Los Angeles Daily Journal here and The Daily Transcript here (subscriber only).
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