Scott Leads Bipartisan Letter to Treasury Encouraging Opportunity Zone Rules Clarification

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WASHINGTON—Today, United States Senator Tim Scott (R-SC) led a bipartisan, bicameral letter to Treasury Secretary Steven Mnuchin encouraging clarity about the Department of Treasury’s proposed Opportunity Zone regulations released on October 19, 2018.

“As original cosponsors of the underlying Investing in Opportunity Act, we write to express both praise of and concerns with Treasury’s proposed regulations under Code section 1400Z-2, released on October 19, 2018, and urge you to address key issues that are critical to this provision working according to congressional intent.