Sen. Scott Statement on New Opportunity Zone Regulations

Staff Report From South Carolina CEO

Thursday, April 18th, 2019

The United States Department of Treasury released the second round of regulations governing the Opportunity Zones initiative, championed and included in the 2017 tax reform package by U.S. Senator Tim Scott. Scott’s reaction to the new regulations is below:

“Overall, the Treasury Department took some good steps forward today with the issuance of the second round of regulations governing Opportunity Zones. As we now enter the comment period, it is critical that we make certain the regulations will work for operating businesses and job creators, and I look forward to hearing from these folks during that process. I will continue working with Secretary Mnuchin, states and cities, and the investment community to ensure that Opportunity Zones provide distressed communities with a path to prosperity and success.”

You can read the full second round of regulations here.