Trade Group Established to Lobby for Opportunity Zone Policy
"A staffer for Sen. Tim Scott (R-S.C.), one of the creators of the 2017 tax law’s opportunity zone tax breaks, has left the senator’s office to launch a trade group that will represent investors taking advantage of the tax incentives," reports Lydia O'Neal.
"Shafron 'Shay' Hawkins, who confirmed his departure to Bloomberg Tax, founded the Opportunity Funds Association, a Section 501(c)(6) trade association, with Surya Gunasekara, a lobbyist and former chief of tax and tax counsel to former Rep. Jim Renacci (R-Ohio)," according to O'Neal. "The association will lobby on policy surrounding opportunity zones at the federal, state, and local levels, according to its website."
More details on the group, its financial backing, and some of the legal questions still in plan regarding opportunity zones are included in the article.