Tax Opportunity Zones


CLE credits earned: 2 GENERAL (or 2 LAW & LEGAL for WA state)

“Opportunity Zones” are census tracts designated by state governors in which qualifying investments receive substantial tax breaks. The tax breaks include the deferral of federal capital gains tax, the reduction of that tax and the elimination of subsequent capital gains tax on some or all of the appreciation on the investment. A creation of the Tax Cuts and Jobs Act of 2017, Opportunity Zones are intended to stimulate long term investment in low-income census tracts by rewarding investors with meaningful tax benefits.

This course is co-sponsored with myLawCLE.

Key topics to be discussed:

•   What is the purpose of the OZ program
•   Description of enabling legislation and recently issued guidance
•   Creation of Opportunity Funds
•   Investments in OZ property and businesses

Date / Time: August 13, 2019

•   2:00 pm – 4:00 pm Eastern
•   1:00 pm – 3:00 pm Central
•   12:00 pm – 2:00 pm Mountain
•   11:00 am – 1:00 pm Pacific

Choose a format:

•   Live Video Broadcast/Re-Broadcast: Watch Program “live” in real-time, must sign-in and watch program on date and time set above. May ask questions during presentation via chat box. Qualifies for “live” CLE credit.
•   On-Demand Video: Access CLE 24/7 via on-demand library and watch program anytime. Qualifies for self-study CLE credit. On-demand versions are made available 7 business days after the original recording date and are view-able for up to one year.

Select your state to see if this class is approved for CLE credit.

Choose the format you want.


Original Broadcast Date: January 8, 2019

Michael Williamson, Esq. Chairs Buchalter’s Real Estate Practice Group and is a member of the firm’s Board of Directors. His practice includes finance, equity investments, opportunity zones, tax credits, real estate fund formation, syndicated investments, and portfolio and syndicated credit facilities, including asset-based lending, secured and unsecured credit facilities, municipal and project finance.

Michael represents project sponsors, funds, lenders, borrowers, and investors nationwide in financing, structuring and syndicating office, hotel, industrial, and multifamily projects. His projects involve tax credits, foreclosures, work-outs, opportunity zone investments and workouts or restructuring partnership disputes. He lectures frequently on financing issues, opportunity zones, historic preservation, tax credits, and real estate transactions.

Michael is active in community affairs in his hometown of Pasadena. He serves as chair of the City Planning Commission and on the Board of Zoning Appeals, and is founder, past president and vice president of development of Heritage Housing Partners, a nonprofit for-sale housing developer.

Michael earned his B.A. in Government and Public Policy Analysis at Pomona College and his J.D. at Loyola Law School.

Bar Admissions

Joshua Perttula, Esq. is a founding partner of Abington Emerson and a current member of its Investment Committee. Mr. Perttula graduated with a B.A. in both Economics and Political Science from the University of California, Irvine and holds a J.D. from the University of California, Hastings College of the Law. Mr. Pertulla is an active member of the California State Bar and a licensed real estate broker in the State of California.

Accreditation Policy
myLawCLE seeks accreditation for all programs in all states. (Accreditation for paralegals sought thru NALA and NFPA paralegal associations.) Each attending attorney/paralegal will receive a certificate of completion following the close of the CLE program as proof of attendance. In required states, myLawCLE records attorney/paralegals attendance, in all other states attorney/paralegal is provided with the approved CLE certificate to submit to their state bar or governing association.

    Automatic MCLE Approvals

All myLawCLE CLE programs are accredited automatically either directly or via reciprocity in the following states: AK, AR, CA, CT, FL, HI, ME, MO, MT, ND, NH, NM, NJ, NY, WV, and VT. (AZ does not approve CLE programs, but accepts our certificates for CLE credit.)

    Live Video Broadcasts

Live video broadcasts are new live CLE programs being streamed and recorded for the first time. All of these programs qualify for “Live” CLE credit in all states except NV, OH, MS, IN, UT, PA, GA, SC, and LA —these states require in-person attendance to qualify for “Live” CLE credit.

    “Live” Re-Broadcasts

“Live” Re-broadcasts are replays of previous recorded CLE programs, set on a specific date and time and where the original presenting speakers calls in live at the end of the event to answer questions. This “live” element allows for “live” Re-broadcast CLEs to qualify for “Live” CLE credits in most states. [The following states DO NOT allow for “live” CLE credits on re-broadcast CLEs: NV, OH, MS, IN, UT, PA, GA, SC, and LA]

Many states allow for credit to be granted on a 1:1 reciprocal basis for courses approved in another mandatory CLE jurisdiction state. This is known as a reciprocity provision and includes the following states: AK, AR, HI, CT, FL, ME, MO, MT, ND, NH, NM, VT, NJ, NY, and WV. myLawCLE does not seek direct accreditation of live webinars or teleconferences in these states.

Section I. Federal Tax Benefits of Opportunity Zone Investments

Section II. Overview of Opportunity Zones

Section III. Who can take advantage of the OZ benefits?

Section IV. How does this work in practice?

Section V. Qualified Opportunity Funding (QOF)

Section VI. QOZ stock or partnership interest?

Section VII. QOZB

Section VIII. QOZB property

Section IX. Opportunity Zone Fund Investment Structures

Section X. Land v. Building as QOZBP

Section XI. Penalty if QOF fails to timely deploy (reinvest?) investments