Bulletin No. 1997–8 February 24, 1997

premiums. A public hearing will be held on April 30, 1997.

REG–246018–96, page 30. Proposed regulations under section 801 of the Code relate to the definition of life insurance reserves. A public hearing will be held on April 17, 1997.

REG–248770–96, page 33. Proposed regulations under section 6601 of the Code relate to joint returns, property exempt from levy, interest, penalties, offers in compromise, and the awarding of costs and certain fees.

Notice 97–14, page 23. Low-income housing tax credit. Resident populations of the various states, for determining the 1997 calendar year (1) state housing credit ceiling under section 42(h) of the Code, and (2) private activity bond volume cap under section 146, are reproduced.

EXEMPT ORGANIZATIONS

Announcement 97–13, page 38. A Taste of Orange County, Inc., Irvine, CA, no longer qualifies as an organization to which contributions are deductible under section 170 of the Code.

Announcement 97–14, page 38. A list is given of organizations now classified as private foundations.

EXCISE TAX

Notice 97–15, page 23. The Service intends to modify section 40.6302(c)– 1(c)(2) of the Excise Tax Procedural Regulations to provide that the availability of the safe harbor deposit rule based on look-back quarter liability is limited in cases where a new excise tax is enacted or an expired excise tax is reinstated.