This ebook provides a high-level overview of the Opportunity Zone program, a guide to six of some of the most meaningful changes for land redevelopment included in the final regulations, and information on where to turn for quick and cost-effective assistance when it comes to environmental remediation.
- Satisfying the "Original Use" and "Substantial Improvement" tests
- Why the "Original Use" test can apply to a chemically resistant coating solution for vapor intrusion mitigation
- How in situ barriers can quickly reduce CVOC’s and meet "Original Use" test
- Tips for judgments on mitigating unproductive land speculations
Qualified Opportunity Zones (QOZ) were created by the 2017 Tax Cuts and Jobs Act. These zones are designed to spur economic development and job creation in distressed communities throughout the country by providing tax benefits to investors who invest eligible capital into these communities. Taxpayers may defer tax on eligible capital gains by making an appropriate investment in a Qualified Opportunity Fund (QOF) and meeting timing and public benefit requirements.
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