On April 17, 2019, the U.S. Department of Treasury (“DOT”) issued its long-anticipated second set of regulations with respect to Qualified Opportunity Zones.

According to the DOT, the second set of regulations provides, among other items, (i) expansion of the working capital safe harbors, (ii) specificity regarding a Qualified Opportunity Zone Business Property, (iii) clarity on the treatment of gains on long-term investments, ownership and operation of business, and (iv) other clarifications and compliance metrics. The DOT expects to announce its third set of regulations in the coming months.

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