SECTION 8. Interim Guidance and

Reliance

The effective date of this notice is March 25, 2008. This notice provides interim guidance. Issuers of tax-exempt bonds may apply and rely on this notice for any actions taken with respect to tax-exempt bonds on or after November 1, 2007 and before the effective date of any future regulation under § 150 that implement the guidance with respect to any particular applicable provision in this notice or other public guidance that withdraws or supersedes any particular applicable provision in this notice. Issuers also may continue to rely on Notice 88–130 until the effective date of such future regulations. Notice 2008–27 is superseded and may not be relied upon after the effective date of this notice. The IRS and the Treasury Department may amend or supplement the guidance in this notice as circumstances warrant.