[Code of Federal Regulations]
[Title 26, Volume 1]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.25-7T]

[Page 75-76]
 
                       TITLE 26--INTERNAL REVENUE
 
     CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY
 
PART 1--INCOME TAXES--Table of Contents
 
Sec. 1.25-7T  Public notice (Temporary).

    (a) In general. At least 90 days prior to the issuance of any 
mortgage credit certificate under a qualified mortgage credit 
certificate program, the issuer shall provide reasonable public notice 
of--
    (1) The eligibility requirements for such certificate,
    (2) The methods by which such certificates are to be issued, and
    (3) The other information required by this section.
    (b) Reasonable public notice--(1) In general. Reasonable public 
notice means published notice which is reasonably designed to inform 
individuals who would be eligible to receive mortgage credit 
certificates of the proposed issuance. Reasonable public notice may be 
provided through newspapers of general circulation.

[[Page 76]]

    (2) Contents of notice. The public notice required by paragraph (a) 
must include a brief description of the principal residence requirement, 
3-year requirement, purchase price requirement, and new mortgage 
requirement. The notice must also provide a brief description of the 
methods by which the certificates are to be issued and the address and 
telephone number for obtaining further information.

[T.D. 8023, 50 FR 19354, May 8, 1985]