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How can the OZ tax incentive help deliver economic recovery in the wake of the COVID-19 pandemic?

I want to help make a difference while reaping some tax benefits. What are my options when it comes to OZ investing? Can we expect any updates to the OZ legislation to make it easier to aid in the recovery of our economy?


Answers
  • Maria De Los Angeles Rivera
    January 05, 2021

    I understand that when talking about OZ legislation during the 2020 campaign, it was addressed to increase reporting and determination of impact of the investment. Therefore, we may expect stricter reporting rules.

  • Matthew Rappaport
    December 30, 2020

    What you can expect are not necessarily updates to the legislation itself, but updates to enforcement. The Biden Administration's tax platform addresses OZ reporting and monitoring, and it's likely a Biden Treasury Department will conduct studies about how much impact OZ projects are having. If you're interested in making the most impact, search the Internet for impact investing in OZs, and you should be able to find some good options. Another good source would be looking up the CDFIs that are getting involved in the program. One fund I'm aware of that is doing very good work in the impact investing area is the River Fund.

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