I have several properties adjacent to an Opportunity Zone. Under the current regulation, it seems that I am not able to enjoy the benefits of the program with these properties. How likely is it that the boundaries of existing OZs will be adjusted or redesignated in the near future?
Much to my surprise, there is some legitimate talk by officials of setting some new OZs after the census is finalized (and possibly removing some). I would think that any project started would have to be grandfathered if that occurs as would be highly unfair to a QOZB to remove a designation, and I do not foresee that occurring.
I would describe the likelihood as "low." Congress is more dysfunctional than ever, and this effort would take a lot of political will. It's not impossible, but I don't see it happening.
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