Bulletin No. 1996–29 July 15, 1996

be thirty-four cents for the quarter beginning July 1, 1996.

ADMINISTRATIVE

Rev. Proc. 96–37, page 16. Qualified mortgage bonds; mortgage credit certifi- cates; national median gross income. Guidance is provided concerning the use of the national and area median gross income figures by issuers of qualified mortgage bonds and mortgage credit certificates in determining the housing cost/income ratio described in section 143(f)(5) of the Code. Rev. Proc. 95–32 is obsolete except as provided in section 5.02 of this revenue procedure.

Announcement 96–64, page 18. T.D. 8659, 1996–16 I.R.B. 4, relating to the taxes on gasoline and diesel fuel, is corrected.

Announcement 96–65, page 18. INTL–0054–95, 1996–14 I.R.B. 39, relating to the determination of the interest expense deduction of foreign corporations and the branch profits tax, is corrected.