SECTION 3. SCOPE

This revenue procedure only applies to residential units in a building where the incomes of the individuals occupying the unit are at or below the applicable income limitation under § 42(g)(1) or § 142(d)(4)(B)(i) before the beginning of the first taxable year of the building’s

2003-47 I.R.B. 1098 November 24, 2003

uses a method consistent with the safe harbors for determining whether a unit is a low-income unit under § 42(i)(3)(A) at the beginning of the first taxable year of the building’s credit period under § 42(f)(1) (as described in section 4 of this revenue procedure) and the issue is under consideration (within the meaning of section 3.09 of Rev. Proc. 2002–9, 2002–1 C.B. 327) for taxable years in examination, before an appeals office, or before the U.S. Tax Court in a taxable year that ends before November 24, 2003, the issue will not be further pursued by the Service.