SECTION 10. DISCLOSURE OF

INFORMATION

.01 Announcement . Consistent with § 48D(d)(4) of the Code and section 9023(e)(5)(B)(ii) of the Affordable Care Act, the Service will, upon making a certification for credit or grant, publicly disclose the identity of the applicant and the amount of the credit or grant with respect to the applicant. In addition, upon making a certification with respect to taxpayers that have either elected to receive a grant for the 2009 tax year or provided the consent as provided in section 10.02 of this notice with respect to their application for credit, the Service will also publish the type and location of the project that is the subject of the application for § 48D qualifying therapeutic discovery project certification in the event the project receives an allocation.

.02 Consent to disclosure of informa- tion concerning the allocation . Section 48D(d)(4) of the Code provides that the Service will, upon making a certification, publicly disclose the identity of the applicant and the amount of the credit with respect to the applicant. Section 9023(e)(5)(B)(ii) of the Affordable Care Act provides that in no event will the amount of a grant, the identity of the person to whom the grant was made, or a description of the investment with respect to which the grant was made be treated as return information for purposes of § 6103. Thus, the statute authorizes public disclosure of more information for taxpayers awarded allocation for a grant than for taxpayers awarded allocation for a credit. In order to provide the public with the same information on taxpayers

(4) Section 9023(e)(5)(A) of the Affordable Care Act provides that in making grants, the Secretary will apply rules similar to the rules of § 50 of the Code. In applying such rules, any increase in tax under chapter 1 of the Code by reason of an investment ceasing to be a qualified investment will be imposed on the person to whom the grant was made.

(5) Section 9023(e)(5)(B)(i) of the Affordable Care Act provides that if the amount of the grant made under section 9023(e) exceeds the amount allowable as a grant, the excess must be recaptured under section 9023(e)(5)(A) as if the investment to which the excess portion of the grant related had ceased to be a qualified investment immediately after the grant was made.

(6) Section 9023(e)(5)(B)(ii) of the Affordable Care Act provides that in no event will the amount of a grant, the identity of the person to whom the grant was made, or a description of the investment with respect to which the grant was made be treated as return information for purposes of § 6103 of the Code.

(7) Section 9023(e)(6) of the Affordable Care Act provides that the Secretary will not make any grant to (A) any Federal, State, or local government (or any political subdivision, agency, or instrumentality thereof), (B) any organization described in § 501(c) of the Code and exempt from tax under § 501(a), (C) any entity referred to in § 54(j), or (D) any partnership or other pass-thru entity any partner (or other holder of an equity or profits interest) of which is described in section 9023(e)(6)(A) through (C). A partnership or pass-thru entity is not eligible for a grant if any direct or indirect partner (or other holder of an equity or profits interest) is described in section 9023(e)(6)(A) through (C). A partnership or other pass-thru entity must determine if any of its partners or other holders of any equity or profits interest is described in section 9023(e)(6)(A) through (C) before the partnership or the pass-thru entity may apply for a grant.