New Markets Tax Credit; Correction, 4012 [05-1552]
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Federal Register / Vol. 70, No. 18 / Friday, January 28, 2005 / Rules and Regulations
Agana, Guam, Guam International, RNAV
(GPS) RwY 6R, Orig-B
Agana, Guam, Guam International, RNAV
(GPS) Z RwY 6L, Orig-C
Agana, Guam, Guam International, RNAV
(GPS) RwY 24L, Orig-B
Agana, Guam, Guam International, RNAV
(GPS) RwY 24R, Orig-B
Elkhart, IN, Elkhart Muni, ILS OR LOC RwY
27, Amdt 2
Elkton, MD, Cecil County, RNAV (GPS) RwY
13, Orig-A
Frederick, MD, Frederick Muni, RNAV (GPS)
Y RwY 23, Amdt 1
Ocean City, MD, Ocean City Muni, RNAV
(GPS) RwY 14, Orig-D
Morganton, NC, Morganton-Lenoir, RNAV
(GPS) RwY 3, Orig
Morganton, NC, Morganton-Lenoir, RNAV
(GPS) RwY 21, Orig
Morganton, NC, Morganton-Lenoir, NDB
RwY 3, Amdt 5
Statesville, NC, Statesville Regional, LOC
RwY 10, Orig-A, Cancelled
Statesville, NC, Statesville Regional, NDB
RwY 10, Orig-A, Cancelled
Wilmington, NC, Wilmington Intl, LOC BC
RwY 17, Amdt 7C, Cancelled
Clayton, NM, Clayton Muni Airpark, RNAV
(GPS) RwY 2, Amdt 1
Clayton, NM, Clayton Muni Airpark, RNAV
(GPS) RwY 20, Amdt 1
Lovington, NM, Lea County-Zip Franklin
Memorial, RNAV (GPS) RwY 3, Orig
Lovington, NM, Lea County-Zip Franklin
Memorial, RNAV (GPS) RwY 21, Orig
Lovington, NM, Lea County-Zip Franklin
Memorial, GPS RwY 21, Amdt 1, Cancelled
Lovington, NM, Lea County-Zip Franklin
Memorial, GPS RwY 3, Amdt 1, Cancelled
Athens (Albany), OH, Ohio University
Snyder Field, ILS OR LOC RwY 25, Amdt
1A
Athens (Albany), OH, Ohio University
Snyder Field, RNAV (GPS) RwY 7, Orig
Athens (Albany), OH, Ohio University
Snyder Field, RNAV (GPS) RwY 25, Orig
Athens (Albany), OH, Ohio University
Snyder Field, NDB RwY 25, Amdt 9
Athens (Albany), OH, Ohio University , GPS
RwY 7, Orig-A, Cancelled
Athens (Albany), OH, Ohio University , GPS
RwY 25,Orig-A,Cancelled
Philadelphia, PA, Philadelphia Intl, NDB
RwY 27L, Amdt 5C, Cancelled
Washington, PA, Washington County, VORB, Amdt 7
Washington, PA, Washington County, NDB
RwY 27, Amdt 1
Washington, PA, Washington County, RNAV
(GPS) RwY 9, Orig
Washington, PA, Washington County, GPS
RwY 9, Orig-B, Cancelled
Washington, PA, Washington County, RNAV
(GPS) RwY 27, Orig
Dallas-Fort Worth, TX, Dallas/Fort Worth
International, NDB RwY 35C, Amdt 10B,
Cancelled
Dallas-Fort Worth, TX, Dallas/Fort Worth
International, ILS OR LOC RwY 35C, Orig
Dallas-Fort Worth, TX, Dallas/Fort Worth
International, CONVERGING ILS RwY 35C,
Orig
Dallas-Fort Worth, TX, Dallas/Fort Worth
International, ILS RwY 35C, Amdt 7,
Cancelled
VerDate jul<14>2003
14:20 Jan 27, 2005
Jkt 205001
Dallas-Fort Worth, TX, Dallas/Fort Worth
International, CONVERGING ILS RwY 35C,
Amdt 5A, Cancelled
Dallas-Fort Worth, TX, Dallas/Fort Worth
International, LOC/DME RwY 17C, Orig
Galveston, TX, Scholes Intl at Galveston, ILS
OR LOC RwY 13, Amdt 11
Galveston, TX, Scholes Intl at Galveston,
RNAV (GPS) RwY 13, Orig
Galveston, TX, Scholes Intl at Galveston, GPS
RwY 13, Amdt 1, Cancelled
Galveston, TX, Scholes Intl at Galveston,
RNAV (GPS) RwY 17, Orig
Galveston, TX, Scholes Intl at Galveston, GPS
RwY 17, Amdt 1, Cancelled
Warrenton, VA, Warrenton-Fauquier, VOR
RwY 14, Amdt 4
Warrenton, VA, Warrenton-Fauquier, RNAV
(GPS) RwY 14, Orig
[FR Doc. 05–1411 Filed 1–27–05; 8:45 am]
BILLING CODE 4910–13–P
PART 1—INCOME TAXES
Paragraph 1. The authority citation for
part 1 continues to read in part as
follows:
I
Authority: 26 U.S.C. 7805 * * *
§ 1.45D–1
[Corrected]
I Par. 2. Section 1.45D–1(a), under the
‘‘Table of contents’’, the entry for
paragraph (h)(2) ‘‘(2) Exception for
certain provisions’’ is removed and the
language ‘‘(2) Exception’’ is added in its
place.
I Par. 3. Section 1.45D–1(d)(4)(i)(E),
second sentence, the language, ‘‘For
purposes the preceding’’ is removed and
the language ‘‘For purposes of the
preceding’’ is added in its place.
DEPARTMENT OF THE TREASURY
I Par. 4. Section 1.45D–1(d)(5)(ii) and
(h)(2) are revised to read as follows:
Internal Revenue Service
§ 1.45D–1
26 CFR Part 1
[TD 9171]
RIN 1545–AY87; 1545–BC03
New Markets Tax Credit; Correction
Internal Revenue Service (IRS),
Treasury.
ACTION: Correcting amendment.
AGENCY:
SUMMARY: This document contains
corrections to final regulations (TD
9171), that were published in the
Federal Register on Tuesday, December
28, 2004 (69 FR 77625) relating to the
new markets tax credit under section
45D.
DATES: This correction is effective
December 28, 2004.
FOR FURTHER INFORMATION CONTACT: Paul
F. Handleman or Lauren R. Taylor, (202)
622–3040 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The final regulations (TD 9171) that
are the subject of these corrections are
under section 45D of the Internal
Revenue Code.
Need for Correction
As published, TD 9171 contains errors
that may prove to be misleading and are
in need of clarification.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and
recordkeeping requirements.
Correction of Publication
Accordingly, 26 CFR part 1 is corrected
by making the following correcting
amendments:
I
PO 00000
Frm 00010
Fmt 4700
New markets tax credit.
*
Sfmt 4700
*
*
*
*
(d) * * *
(5) * * *
(ii) Rental of real property. The rental
to others of real property located in any
low-income community (as defined in
section 45D(e)) is a qualified business if
and only if the property is not
residential rental property (as defined in
section 168(e)(2)(A)) and there are
substantial improvements located on the
real property. However, a CDE’s
investment in or loan to a business
engaged in the rental of real property is
not a qualified low-income community
investment under paragraph (d)(1)(i) of
this section to the extent a lessee of the
real property is described in paragraph
(d)(5)(iii)(B) of this section.
(h) * * *
(2) Exception. Paragraph (d)(5)(ii) of
this section as it relates to the restriction
on lessees described in paragraph
(d)(5)(iii)(B) of this section applies to
qualified low-income community
investments made on or after June 22,
2005.
*
*
*
*
*
I Par. 5. Section 1.45D–1(d)(8)(ii),
Example (ii), first sentence, the language,
‘‘On November 1, 2004, W makes a’’ is
removed and the language ‘‘On
November 1, 2004, W makes an’’ is
added in its place.
Cynthia E. Grigsby,
Acting Chief, Publications and Regulations
Branch, Legal Processing Division, Associate
Chief Counsel, (Procedures and
Administration).
[FR Doc. 05–1552 Filed 1–27–05; 8:45 am]
BILLING CODE 4830–01–P
E:\FR\FM\28JAR1.SGM
28JAR1
]]>Agencies
[Federal Register Volume 70, Number 18 (Friday, January 28, 2005)]
[Rules and Regulations]
[Page 4012]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-1552]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9171]
RIN 1545-AY87; 1545-BC03
New Markets Tax Credit; Correction
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Correcting amendment.
-----------------------------------------------------------------------
SUMMARY: This document contains corrections to final regulations (TD
9171), that were published in the Federal Register on Tuesday, December
28, 2004 (69 FR 77625) relating to the new markets tax credit under
section 45D.
DATES: This correction is effective December 28, 2004.
FOR FURTHER INFORMATION CONTACT: Paul F. Handleman or Lauren R. Taylor,
(202) 622-3040 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The final regulations (TD 9171) that are the subject of these
corrections are under section 45D of the Internal Revenue Code.
Need for Correction
As published, TD 9171 contains errors that may prove to be
misleading and are in need of clarification.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
Correction of Publication
0
Accordingly, 26 CFR part 1 is corrected by making the following
correcting amendments:
PART 1--INCOME TAXES
0
Paragraph 1. The authority citation for part 1 continues to read in
part as follows:
Authority: 26 U.S.C. 7805 * * *
Sec. 1.45D-1 [Corrected]
0
Par. 2. Section 1.45D-1(a), under the ``Table of contents'', the entry
for paragraph (h)(2) ``(2) Exception for certain provisions'' is
removed and the language ``(2) Exception'' is added in its place.
0
Par. 3. Section 1.45D-1(d)(4)(i)(E), second sentence, the language,
``For purposes the preceding'' is removed and the language ``For
purposes of the preceding'' is added in its place.
0
Par. 4. Section 1.45D-1(d)(5)(ii) and (h)(2) are revised to read as
follows:
Sec. 1.45D-1 New markets tax credit.
* * * * *
(d) * * *
(5) * * *
(ii) Rental of real property. The rental to others of real property
located in any low-income community (as defined in section 45D(e)) is a
qualified business if and only if the property is not residential
rental property (as defined in section 168(e)(2)(A)) and there are
substantial improvements located on the real property. However, a CDE's
investment in or loan to a business engaged in the rental of real
property is not a qualified low-income community investment under
paragraph (d)(1)(i) of this section to the extent a lessee of the real
property is described in paragraph (d)(5)(iii)(B) of this section.
(h) * * *
(2) Exception. Paragraph (d)(5)(ii) of this section as it relates
to the restriction on lessees described in paragraph (d)(5)(iii)(B) of
this section applies to qualified low-income community investments made
on or after June 22, 2005.
* * * * *
0
Par. 5. Section 1.45D-1(d)(8)(ii), Example (ii), first sentence, the
language, ``On November 1, 2004, W makes a'' is removed and the
language ``On November 1, 2004, W makes an'' is added in its place.
Cynthia E. Grigsby,
Acting Chief, Publications and Regulations Branch, Legal Processing
Division, Associate Chief Counsel, (Procedures and Administration).
[FR Doc. 05-1552 Filed 1-27-05; 8:45 am]
BILLING CODE 4830-01-P
