SECTION 9. PAPERWORK

REDUCTION ACT

The collection of information contained in this revenue procedure has been reviewed and approved by the Office of Management and Budget in accordance with the Paperwork Reduction Act (44 U.S.C. 3507) under control number 1545–2001.

fied by Rev. Proc. 2002–54, 2002–2 C.B. 432, and modified by Rev. Proc. 2004–11, 2004–1 C.B. 311), and Rev. Rul. 90–38, 1990–1 C.B. 57, the Commissioner specifically grants consent to a taxpayer complying with the provisions of this section 4.01(2)(a) to make a retroactive change in method of accounting for the commercial revitalization deduction allowed under § 1400I(a); or

(b) obtaining the consent of the Commissioner under § 446(e) to change the taxpayer’s method of accounting for the commercial revitalization deduction allowed under § 1400I(a) by filing a Form 3115, Application for Change in Account- ing Method, with the taxpayer’s federal tax return for the taxable year that includes the date on which the commercial revitalization agency makes the retroactive commercial revitalization expenditure allocation, or with the taxpayer’s federal tax return for the first taxable year succeeding the taxable year that included the date on which the commercial revitalization agency made the retroactive commercial revitalization expenditure allocation. To obtain this consent, the taxpayer must follow the automatic change in method of accounting provisions in Rev. Proc. 2002–9 or any successor, with the following modifications:

(i) The scope limitations in section 4.02 of Rev. Proc. 2002–9 do not apply; and

(ii) For purposes of section 6.02(4)(a) of Rev. Proc. 2002–9, the taxpayer should include on line 1a of the Form 3115 the designated automatic accounting method change number for the change in method of accounting for depreciation made under this section 4. This number for this method change is 97.

.02 Return not filed for the placed- in-service year of a qualified revitaliza- tion building in the expanded area . If a taxpayer receives a retroactive commercial revitalization expenditure allocation made in accordance with section 3 of this revenue procedure for a qualified revitalization building that was or will be placed in service by the taxpayer in the expanded area of a renewal community and the taxpayer files the federal tax return for the placed-in-service year of that building after the date the taxpayer received the retroactive commercial revitalization expenditure allocation, the taxpayer must make the commercial revitalization deduc

tion election provided by § 1400I(a) for the building by following the procedures in sections 7.01 and 7.02 of Rev. Proc. 2003–38. .03 Other rules applicable to the com- mercial revitalization deduction election . Sections 7.03, 7.04, and 7.05 of Rev. Proc. 2003–38 (as modified by this revenue procedure) also apply to a taxpayer described in, or to the commercial revitalization deduction election made in accordance with, section 4.01 or 4.02 of this revenue procedure.