Regulacje i polityka gospodarcza · 02/11/2004

Change in Effective Date in Notice for Designation of Difficult Development Areas Under Section 42 of the Internal Revenue Code of 1986

This document amends a notice that designates 2004 Difficult Development Areas (the 2004 notice), by extending 2003 eligibility for areas that were designated as 2003 Difficult Development Areas in a notice published in 2002 (the 2003 notice), but were not so designated in the 2004 notice. The amendment is necessary because publication of the 2004 notice only two weeks prior to its effective date did not provide adequate notice to affected entities. This notice (1) changes the definition of effective date to relate it to the filing date of an application for Low-Income Housing Tax Credits or tax-exempt bond financing, (2) extends the effective date for areas designated as Difficult Development Areas in the 2003 notice that were not Difficult Development Areas in the 2004 notice, and (3) changes the definition of effective date for the Difficult Development Areas and Qualified Census Tracts in the 2004 notice to relate it to the filing date of an application for Low-Income Housing Tax Credits or tax-exempt bond financing, but does not change the dates themselves.