INCOME TAX—Cont.

Proposed Regulations:

26 CFR 1.46–6, amended; 1.168(i)–3 added; application of normalization accounting rules to balances of excess deferred income taxes and accumulated deferred investment tax credits of public utilities whose generation assets cease to be public utility property (REG–104385–01) 12, 634 26 CFR 1.61–8, revised; rents and royalties (REG–151043–02) 3, 300 26 CFR 1.61–22, amended; 1.83–6, amended; 1.301–1, amended; splitdollar life insurance arrangements (REG–164754–01) 22, 975 26 CFR 1.121–3, amended; reduced maximum exclusion of gain from sale or exchange of principal residence (REG–138882–02) 8, 522 26 CFR 1.141–0, –1, amended; 1.141– 13, added; 1.141–15, amended; 1.145–0, –2, amended; 1.149(d)–1, amended; 1.150–1, amended; obligations of states and political subdivisions (REG–113007–99) 23, 1004 26 CFR 1.167(a)–3, amended; 1.263(a)–4, added; 1.446–5, added; guidance regarding deduction and capitalization of expenditures (REG–125638–01) 5, 373 26 CFR 1.263A–7, revised; 1.448–1, amended; administration simplification of section 481(a) adjustment periods in various regulations (REG–142605–02) 23, 1010 26 CFR 1.302–5, 1.304–3; redemptions taxable as dividends (REG– 150313–01); correction (Ann 9) 7, 490 26 CFR 1.368–2, revised; statutory mergers and consolidations (REG– 126485–01) 9, 542 ; correction (Ann 25) 17, 846 26 CFR 1.704–1, –3, amended; 1.721–2, added; 1.761–3, added; 1.1272–1, amended; 1.1273–2, amended; 1.1275–4, amended; noncompensatory partnership options (REG–103580–02) 9, 543

2003–27 I.R.B. xii July 7, 2003