Manatt’s Neil Faden, a partner in the firm’s corporate and finance group, spoke to Bloomberg Tax about the opportunity zones tax incentive currently under consideration in Congress.
A new bill would extend an incentive that expires for investors who use the provision after 2019, according to Bloomberg.
Faden said the announcement was “great news” for investors who may have been hesitant to take advantage of the incentive without regulations.
“I honestly think they’ve been trying really hard to get the regulations out,” he said, referring to the Internal Revenue Service and the Treasury Department. “If they had gotten them out a year ago, we wouldn’t have this problem.”
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