SECTION 2. TREATMENT OF

CERTAIN SECTION 1221(a)(1) PROPERTY UNDER SECTION 956(c)

The damage caused by Hurricane Irma and Hurricane Maria has imperiled section 1221(a)(1) property located in affected areas. To facilitate necessary safekeeping of such section 1221(a)(1) property, this notice announces that, for purposes of section 956, a CFC will not be treated as holding United States property as a result of holding section 1221(a)(1) property located in the United States, if such section 1221(a)(1) property was located, on or before September 5, 2017, in an area identified by the Federal Emergency Management Agency (“FEMA”) as subject to a major disaster or emergency declaration, and such section 1221(a)(1) property was transported to the United States for temporary storage for safekeeping in anticipation of, or as a result of, Hurricane Irma. Furthermore, for purposes of section 956, a CFC will not be treated as holding United States property as a result of holding section 1221(a)(1) property located in the United States, if such section 1221(a)(1) property was located, on or before September 17, 2017, in an area identified by FEMA as subject to a major disaster or emergency declaration, and such section 1221(a)(1) property was transported to the United States for temporary storage for safekeeping in anticipation of, or as a result of, Hurricane Maria.