Washington Report

Advocacy Updates from Washington D.C.

On Tuesday, November 13, NAR participated in the 2018 Kemp Leadership Award Dinner in Washington, DC, hosted by the Jack Kemp Foundation.  The recipient of the award was Sean Parker, for his work and leadership on the Qualified Opportunity Zone program.  Mr. Parker, an entrepreneur and philanthropist best known for his work with Napster and Facebook, founded the Economic Innovation Group think tank in Washington, DC, to study ways to encourage entrepreneurs and boost the U.S. economy.  He, along with Senators Tim Scott (R-SC) and Cory Booker (D-NJ) drafted the original Opportunity Zone legislation, which was included in the Tax Cuts and Jobs Act of 2017.  Along with Mr. Parket and Senator Tim Scott, featured guests at the event were Senator Ben Sasse (R-NE) and Ivanka Trump, Advisor to the President.  
At the 2018 NAR Conference and Expo in Boston, NAR's Board of Directors approved policy supporting the Qualified Opportunity Zones program, which provides tax incentives for investing capital gains into distressed communities designated as "Opportunity Zones."  The goal of the program is to spur investment and development in these under-served areas, and it holds much potential for real estate professionals and their clients.  
The Jack Kemp Foundation, created in honor of former Member of Congress and Secretary of Housing Jack Kemp, is a 501(c)(3) charitable organization committed to advancing the American Idea.

Learn more about Qualified Opportunity Zones

Learn more about the Jack Kemp Foundation