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Opportunity Zone Changes Urged by Commercial Real Estate Organizations

May 27, 2020 by Tracy Johnson

NAR joined with other housing related groups led by the Real Estate Roundtable requesting several changes to the Opportunity Zone program.  The letter asks for the following:

  • Allowing non-capital gain rollovers to also receive tax-favored status;
  • Allowing real estate inside an Opportunity Zone investment to be considered have been substantially improved if 50% of the cost of the property is spent on improving it (down from 100% under the current law);
  • Providing that the capital gain tax rate that applies to the deferred gain on the prior rollover is the same as today’s tax rate;
  • Resetting the holding periods for excluding a partial gain from the rollover of current capital gains;

    A copy of the letter is HERE.
    More information about Opportunity Zones is HERE.

Filed Under: News, Advocacy, Public Affairs, Opportunity Zones

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