Treasury Releases Proposed Regulations on Opportunity Zones Designed to Incentivize Investment in Distressed American Communities
The U.S. Department of the Treasury (Treasury) issued proposed guidance related to the new Opportunity Zone investment tax incentive created by the 2017 Tax Cuts and Jobs Act. The Opportunity Zone investment incentive offers capital gains tax relief to investors for new investment in designated distressed areas.
According to a press release from Treasury, the proposed regulations clarify what gains qualify for deferral, which taxpayers and investments are eligible, the parameters for Opportunity Funds, and other guidance. The Treasury Department plans on issuing additional guidance before the end of the year.
Comments are due 60 days after publication in the Federal Register and a public hearing has been scheduled for January 10, 2019 at 10:00AM EST.
You can view the guidance here.
MSRB Webinar on SEC Rule 15c2-12 Amendments
The Municipal Securities Rulemaking Board (MSRB) will host a webinar on amended SEC Rule 15c2-12 on Thursday, January 17, 2019 from 3:00 p.m. – 4:30 p.m. EST in coordination with the Securities and Exchange Commission (SEC), Government Finance Officers Association (GFOA), and the National Association of Bond Lawyers (NABL).
During this free webinar, panelists will discuss the amendments to SEC Rule 15c2-12 on municipal securities disclosure and related changes to the Electronic Municipal Market Access (EMMA®) website.
The compliance date for these changes to the SEC rule is Wednesday, February 27, 2019 and the MSRB’s EMMA® submission interface will be able to accept the additional disclosures on that date.
You may register for the webinar here.