Offsite construction is trending in the U.S. All one needs to do is perform a quick Google search to see that offsite projects are impacting US markets from coast to coast.
This article is designed to provide you with two unique perspectives of young lawyers at the fall meeting. The first from a first-time attendee and a YLD Ambassador at the Fall Meeting, Aaron Klein.
On October 19, 2018, the U.S. Department of Treasury and the Internal Revenue Service released the first set of the proposed regulations (the “Proposed Regulations”), along with Rev. Rul. 2018-29 and an updated Internal Revenue Service (“IRS”) Frequently Asked Questions, which provide guidance on exactly how the Opportunity Zone program is intended to work.
The Tax Cuts and Jobs Act, Pub. L. 115-97 (the “Act”), signed into law on December 22, 2017, introduced the Opportunity Zone program (Internal Revenue Code §1400Z-1 and §1400Z-2) which provides a new federal framework for stimulating private investment in economically distressed areas across the country.