SECTION 8. QUALIFIED PROGRESS

EXPENDITURES

.01 Section 48B(b)(3) provides that rules similar to the rules of § 46(c)(4) and (d) (as in effect on the day before the enactment of the Revenue Reconciliation Act of 1990) shall apply for purposes of § 48B. Former §§ 46(c)(4) and 46(d) provided the rules for claiming the investment credit on qualified progress expenditures (as defined in former § 46(d)(3)) made by a taxpayer during the taxable year for

Internal Revenue Service Industry Director, Natural Resources

and Construction Attn: Executive Assistant 1919 Smith Street, Floor P2 Stop HOU 1000 Houston, TX 77002

(2) Applications may also be hand delivered Monday through Friday between the hours of 8 a.m. and 4 p.m. Central time to:

Internal Revenue Service Industry Director, Natural Resources

and Construction Attn: Executive Assistant 1919 Smith Street, Floor P2 Stop HOU 1000 Houston, TX 77002