H.R. 1, P.L. 119-21, the law known as the One Big Beautiful Bill Act (OBBBA), fundamentally revises the Opportunity Zone (OZ) program, specifically enhancing rural incentives and defining a rural area. This resource aims to clarify questions that may arise regarding changes to the OZ regime that take effect for the tax years beginning on or after July 4, 2025.
On Sept.11, 2026, Treasury and the IRS published proposed regulations, REG-116506-25, titled Information Reporting Regarding Qualified Opportunity Zones and Updated