SECTION 4. EFFECTIVE DATE

The Internal Revenue Service and Treasury Department are developing regulations regarding the tax credit under § 45 of the Internal Revenue Code for electricity produced from open-loop biomass. This notice provides interim guidance on which taxpayers may rely until the regulations are issued. The Service and Treasury Department expect that the regulations will incorporate the rules set forth in this notice and will be effective for electricity produced after the date of publication of this notice in the Internal Revenue Bulletin.