[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: 26CFR1.42-12]

[Page 167]
 
                       TITLE 26--INTERNAL REVENUE
 
     CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY
 
PART 1--INCOME TAXES--Table of Contents
 
Sec. 1.42-12  Effective dates and transitional rules.

    (a) Effective date. The rules set forth in Secs. 1.42-6 and 1.42-8 
through 1.42-12 are effective May 2, 1994. However, binding agreements, 
election statements, and carryover allocation documents entered into 
before May 2, 1994, that follow the guidance set forth in Notice 89-1, 
1989-1 C.B. 620 (see Sec. 601.601(d)(2)(ii)(b) of this chapter) need not 
be changed to conform to the rules set forth in Secs. 1.42-6 and 1.42-8 
through 1.42-12.
    (b) Prior periods. Notice 89-1, 1989-1 C.B. 620 and Notice 89-6, 
1989-1 C.B. 625 (see Sec. 601.601(d)(2)(ii)(b) of this chapter) may be 
applied for periods prior to May 2, 1994.
    (c) Carryover allocations. The rule set forth in Sec. 1.42-
6(d)(4)(ii) relating to the requirement that state and local housing 
agencies file Schedule A (Form 8610), ``Carryover Allocation of the Low-
Income Housing Credit,'' is applicable for carryover allocations made 
after December 31, 1999.

[T.D. 8520, 59 FR 10074, Mar. 3, 1994; 59 FR 15501, Apr. 1, 1994, as 
amended by T.D. 8859, 65 FR 2328, Jan. 14, 2000]