SECTION 4. EFFECTIVE DATE

.01 General Rule . Except as provided in section 4.02, this revenue procedure applies to taxable years beginning in 2014. .02 Calendar Year Rule . This revenue procedure applies to transactions or events occurring in calendar year 2014 for purposes of sections 3.07 (rehabilitation ex

penditures treated as separate new building), 3.08 (low-income housing credit), 3.12 (transportation mainline pipeline construction industry optional expense substantiation rules for payments to employees under accountable plans), 3.19 (private activity bonds volume cap), 3.20 (loan limits on agricultural bonds), 3.21 (general arbitrage rebate rules), 3.22 (safe harbor rules for broker commissions on guaranteed investment contracts or investments purchased for a yield restricted defeasance escrow), 3.29 (expatriation to avoid tax), 3.33 (valuation of qualified real property in decedent’s gross estate), 3.34 (annual exclusion for gifts), 3.35 (tax on arrow shafts), 3.36 (passenger air transportation excise tax), 3.39 (persons against whom a federal tax lien is not valid), 3.40 (property exempt from levy), 3.41 (interest on a certain portion of the estate tax payable in installments), 3.42 (attorney fee awards), and 3.43 (periodic payments received under qualified longterm care insurance contracts or under certain life insurance contracts).