SECTION 5. EFFECTIVE DATE

.01 This revenue procedure applies to income determinations with respect to residential rental projects financed with exempt facility bonds under § 142(d) issued as part of an issue with an issue date on or after October 24, 2024. This revenue procedure may be applied to income determinations with respect to

5 See explanation in footnote 2 above.

6 Section 42(g)(4) makes § 142(d)(2) applicable for satisfying the requirements to be a qualified low-income housing project and to be a low-income unit. Thus, § 142(d)(2) applies under § 42 for determining tenant income.

Bulletin No. 2024–43 1011 October 21, 2024

residential rental projects financed with exempt facility bonds under § 142(d) issued as part of an issue with an issue date before October 24, 2024, notwithstanding the provision of § 1.103-8(b)(8) (v) that states that the method of determining low or moderate income in effect on the date of issue will be determinative for such issue, even if such method is subsequently changed.

.02 This revenue procedure applies to income determinations with respect to

qualified low-income housing projects (as defined in § 42(g)), and low-income units (as defined in § 42(i)(3)) on or after October 24, 2024.