Good morning wonderful professionals, I hope everyone is well.

🚨Major development🚨there's major proposals submitted to Congress that could enhance and make OZs permanent as early as Q2 2025.

Here are my Top 5 from the proposal:
1: States could re-designate zones as communities prosper, ensuring capital flows to the areas that need it most.

2: Open OZs to all taxpayers, not exclusively to capital gain strategists. This could be a huge win that will open massive new capital from previously untapped sources.

3: if you already own property in an OZ, you would still qualify by spending more than your original basis on improvements. Rewards longtime owners reinvesting in their communities.

4: Make OZ investments automatically qualify for CRA credit. That's a green light for major banks to lend on OZ deals, potentially huge institutional funding.

5: Instead of everyone facing a one year cliff, new investors could get 5 or even 7 years of tax deferral, keeping fresh capital flowing long-term.

(If you want to read all proposed terms, here's the link) https://www.novoco.com/products/novogradac-introduction-to-opportunity-zones