We all know how hard it is to get bipartisan support for anything in the political realm, but Qualified Opportunity Zones (QOZ) investing seems to be the exception. Senator Tim Scott’s QOZ initiative has already generated $75 billion into Opportunity Zone fund investment, and the program is still in its infancy! In this podcast, Emily Lavery, the legislative assistant to Senator Scott, talks about the past, present, and future of the Opportunity Zones program – and explains why job creation is the key component for its success.
When you want to get the real facts and information about Opportunity Zone investing, you go straight to the Opportunity Zones Authority! With Opportunity Zones being the centerpiece of Senator Scott’s Opportunity Agenda, we are seeing significant positive movement and IRS guidance from when the program was first initiated back in 2017. So how are Opportunity Zone Funds, investors, developers, projects, etc properly implementing this revitalization program? Listen to this podcast as Ms. Lavery goes over many significant points and provides a window into the QOZ Marketplace with her insights into the evolution of the program from first initiated up until today.
In addition, with job creation being so important, businesses located in Opportunity Zones now have a resource to find employees at the Opportunity NOW Job Board. As mentioned on the podcast, while most people are mostly interested in real estate deals within these opportunity zones, it’s the business component that will make these areas thrive!
While every investment sector has obviously been hit hard by Covid, there are still many groundbreaking projects located in Opportunity Zones across the country that are serving as anecdotal evidence that QOZ investing is something investors should look into if they want to defer their capital gains tax. With so much capital gains money sitting on the sidelines, can you imagine the impact this program will have long-term when more and more people realize its potential? Questions? Visit Senator Scott’s Opportunity Zones website resource for more information.
Per Senate rules, this podcast episode and links to the various websites above have not been endorsed by any governmental agency.
ABOUT OUR GUEST: Emily Lavery
Ms. Emily Lavery currently serves as Senator Tim Scott’s Legislative Assistant for his work on the Senate Committee on Finance and lead policy advisor for Opportunity Zones. Emily advises Senator Scott on broad federal tax policy, including implementation of the 2017 Tax Cuts and Jobs Act, which Senator Scott was a key architect of, as well as the Opportunity Zones incentive, which was Senator Scott’s keystone legislation enacted as a part of tax reform.
This is her fifth year serving on Senator Scott’s legislative team. Emily is also a fourth year at the Washington College of Law, where she attends part-time as a Jurist Merit Scholar.
Previously, she attended the University of South Carolina for her undergraduate degree where she was a Simms Merit Scholar.
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