Internal Revenue Service (IRS), Treasury.
This document contains a correction to final regulations (TD 9495) that were published in the Federal Register on Friday, July 30, 2010 (75 FR 44901) providing guidance to state and local governments that issue qualified zone academy bonds and to banks, insurance companies, and other taxpayers that hold those bonds on the program requirements for qualified zone academy bonds.Start Printed Page 52267
This correction is effective on August 25, 2010, and is applicable on July 30, 2010.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Zoran Stojanovic, (202) 622-3980 (not a toll-free number).End Further Info End Preamble Start Supplemental Information
The final regulations (TD 9495) that are the subject of this document are under section 1397E of the Internal Revenue Code.
Need for Correction
As published, the final regulations (TD 9495) contain an error that may prove to be misleading and is in need of clarification.Start List of Subjects
List of Subjects in 26 CFR Part 1End List of Subjects
Correction of PublicationStart Amendment Part
Accordingly,End Amendment Part Start Part
PART 1—INCOME TAXESEnd Part Start Amendment Part
End Amendment Part Start Amendment Part
End Amendment Part
(m) * * *
(3) * * * Except to the extent inconsistent with the successor statutory provisions for QZABs in sections 54A and 54E or applicable public administrative or regulatory guidance under those provisions and except as otherwise provided in this paragraph (m)(3), issuers and taxpayers may apply these regulations to QZABs issued under sections 54A and 54E that are sold after October 3, 2008. * * *
LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).
[FR Doc. C1-2010-21045 Filed 8-24-10; 8:45 am]
BILLING CODE 4830-01-P