Earlier today (3/12/2019) the Office of Information and Regulatory Affairs (OIRA) received the second tranche of regulatory guidance for review from the IRS concerning Opportunity Zones. This tranche should include how operating companies will be defined as well as more guidance relating to reporting, data and analytics in and around Opportunity Zones. The vast majority of people and organization involved with Opportunity Zones believe that this round of guidance will either eliminate or clarify the 50% revenue rule as it relates to Operating companies in Opportunity Zones. This will remove one of the biggest hurdles to fund creation and investment dollars flowing to areas of the greatest need.

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