The IRS has been busy releasing updates regarding the Opportunity Zone program (OZ), and the HCVT OZ Team wants to keep you informed on all the latest OZ news. Most importantly, the Biden Administration is continuing to support the program. This comes as no surprise, considering the architects of the 2018 program came out of the Obama Administration. We do anticipate a few OZ program refinements this year, but no major overhaul. The legislative program updates we anticipate are summarized below, in Exhibit A. For the most part, these changes will be beneficial to investors.