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President Trump Signs Executive Order Promoting Opportunity Zones

President Trump signed an executive order yesterday that allotted additional federal resources toward the Opportunity Zone program. Specifically, the Order establishes the White House Opportunity and Revitalization Council, chaired by Housing and Urban Development Secretary Ben Carson, which will help streamline applications for communities to qualify for the investments. The council will work towards identifying federal resources and regulations to allow agencies to coordinate with state and local officials, as well as the Opportunity Zones’ stakeholders, and will prioritize opportunity zones in a variety of federal efforts, including loan guarantees, grant funding, infrastructure spending and crime prevention.

Click here to read the Executive Order in its entirety.

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About this Author

John A. Eliason, Foley Lardner, Tax Lawyer, Energy Industry Attorney

John A. Eliason is a partner and business lawyer at Foley & Lardner LLP. He provides tax, legal, and business advice to financial institutions, equity investors, manufacturers, and project developers in the energy sector and is co-chair of the firm’s Energy Industry Team.

Mr. Eliason regularly represents clients participating in wind, solar, and other renewable energy transactions that rely on tax and other federal and state incentives such as investment tax credits, production tax credits, bonus depreciation, and other government incentive...