[Code of Federal Regulations]
[Title 26, Volume 2]
[Revised as of April 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.148-11A]

[Page 724-725]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
COMPUTATION OF TAXABLE INCOME--Table of Contents
 
Sec. 1.148-11A  Effective dates.

    (a) through (c)(3) [Reserved]. For guidance see Sec. 1.148-11.
    (c)(4) Retroactive application of overpayment recovery provisions. 
An issuer may apply the provisions of Sec. 1.148-3(i) to any issue that 
is subject to section

[[Page 725]]

148(f) or to sections 103(c)(6) or 103A(i) of the Internal Revenue Code 
of 1954.
    (d) through (h) [Reserved]. For guidance see Sec. 1.148-11.
    (i) Transition rules for certain amendments--(1) In general. Section 
1.103-8(a)(5), Secs. 1.148-1, 1.148-2, 1.148-3, 1.148-4, .148-5, 1.148-
6, 1.148-7, 1.148-8, 1.148-9, 1.148-10, 1.148-11, 1.149(d)-1, and 1.150-
1 as in effect on June 7, 1994 (see 26 CFR part 1 as revised April 1, 
1997), and Secs. 1.148-1A through 1.148-11A, 1.149(d)-1A, and 1.150-1A 
apply, in whole, but not in part--
    (i) To bonds sold after June 6, 1994, and before July 8, 1997;
    (ii) To bonds issued before July 1, 1993, that are outstanding on 
June 7, 1994, if the first time the issuer applies Secs. 1.148-1 through 
1.148-11 as in effect on June 7, 1994 (see 26 CFR part 1 as revised 
April 1, 1997), to the bonds under Sec. 1.148-11 (b) or (c) is after 
June 6, 1994, and before July 8, 1997;
    (iii) At the option of the issuer, to bonds to which Secs. 1.148-1 
through 1.148-11, as in effect on July 1, 1993 (see 26 CFR part 1 as 
revised April 1, 1994), apply, if the bonds are outstanding on June 7, 
1994, and the issuer applies Sec. 1.103-8(a)(5), Secs. 1.148-1, 1.148-2, 
1.148-3, 1.148-4, 1.148-5, 1.148-6, 1.148-7, 1.148-8, 1.148-9, 1.148-10, 
1.148-11, 1.149(d)-1, and 1.150-1 as in effect on June 7, 1994 (see 26 
CFR part 1 as revised April 1, 1997), and Secs. 1.148-1A through 1.148-
11A, 1.149(d)-1A, and 1.150-1A to the bonds before July 8, 1997.
    (2) Special rule. For purposes of paragraph (i)(1) of this section, 
any reference to a particular paragraph of Secs. 1.148-1T, 1.148-2T, 
1.148-3T, 1.148-4T, 1.148-5T, 1.148-6T, 1.148-9T, 1.148-10T, 1.148-11T, 
1.149(d)-1T, or 1.150-1T shall be applied as a reference to the 
corresponding paragraph of Secs. 1.148-1A, 1.148-2A, 1.148-3A, 1.148-4A, 
1.148-5A, 1.148-6A, 1.148-9A, 1.148-10A, 1.148-11A, 1.149(d)-1A, or 
1.150-1A, respectively.
    (3) Identification of certain hedges. For any hedge entered into 
after June 18, 1993, and on or before June 6, 1994, that would be a 
qualified hedge within the meaning of Sec. 1.148-4(h)(2), as in effect 
on June 7, 1994 (see 26 CFR part 1 as revised April 1, 1997), except 
that the hedge does not meet the requirements of Sec. 1.148-4A(h)(2)(ix) 
because the issuer failed to identify the hedge not later than 3 days 
after which the issuer and the provider entered into the contract, the 
requirements of Sec. 1.148-4A(h)(2)(ix) are treated as met if the 
contract is identified by the actual issuer on its books and records 
maintained for the hedged bonds not later than July 8, 1997.

[T.D. 8538, 59 FR 24046, May 10, 1994. Redesignated and amended by T.D. 
8718, 62 FR 25507, 25513, May 9, 1997]