SEC. 5. EFFECTIVE DATES

.01 An issuer may rely on the list of qualified census tracts contained in this revenue procedure with respect to a commitment to provide financing if, in the case of a commitment made on or before the date of purchase of the residence, the commitment is made during the period specified in this section 5.01 or, in the case of a commitment made after the purchase date, the residence was purchased during the period specified in this section 5.01. The period begins on July 10, 1995, the date of publication of this revenue procedure in the Internal Revenue Bulletin, and ends on the date as of which the list of qualified census tracts is rendered obsolete by a new revenue procedure.

.02 Notwithstanding section 5.01 of this revenue procedure, issuers may continue to rely on prior independent determinations of qualified census tracts for Puerto Rico and the Virgin Islands for mortgages financed with proceeds of bonds that were sold, or for certificates issued with respect to bond authority that was exchanged, on or before October 9, 1995, the date that is 3 months after publication of this revenue procedure in the Internal Revenue Bulletin, if the commitments to provide financing for the mortgages or to issue certificates are made on or before December 8, 1995, the date that is 5 months after publication of this revenue procedure in the Internal Revenue Bulletin.

26 CFR 601.201: Rulings and determination letters. (Also Part I, Sections 25, 103, 143; 1.25–4T, 1.103–1, 6a.103A–2.)

Rev. Proc. 95–32