Qualified Opportunity Zone Fund Investments
A U.S. Tax Court decision entered on Feb. 20, 2024, in 23rd Chelsea Associates LLC v. Commissioner of Internal Revenue held that bond issuance and related financing costs incurred in connection with the development of a...more
On June 16, 2023, Governor McKee signed the Rhode Island fiscal year 2024 budget that was passed by the General Assembly. The budget includes a new statewide Low-Income Housing Tax Credit (“LIHTC”) program to foster the...more
The Opportunity Zone program was created by the 2017 Tax Cuts and Jobs Act to encourage investment in low-income communities. Under this program (Sections 1400Z-1 and 1400Z-2 of the Internal Revenue Code, the “Statute”), an...more