[Code of Federal Regulations] [Title 26, Volume 1] [Revised as of April 1, 2002] From the U.S. Government Printing Office via GPO Access [CITE: 26CFR1.42-12] [Page 154-155] TITLE 26--INTERNAL REVENUE CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY PART 1--INCOME TAXES--Table of Contents Sec. 1.42-12 Effective dates and transitional rules. (a) Effective date. The rules set forth in Secs. 1.42-6 and 1.42-8 through 1.42-12 are effective May 2, 1994. However, binding agreements, election statements, and carryover allocation documents entered into before May 2, 1994, that follow the guidance set forth in Notice 89-1, 1989-1 C.B. 620 (see Sec. 601.601(d)(2)(ii)(b) [[Page 155]] of this chapter) need not be changed to conform to the rules set forth in Secs. 1.42-6 and 1.42-8 through 1.42-12. (b) Prior periods. Notice 89-1, 1989-1 C.B. 620 and Notice 89-6, 1989-1 C.B. 625 (see Sec. 601.601(d)(2)(ii)(b) of this chapter) may be applied for periods prior to May 2, 1994. (c) Carryover allocations. The rule set forth in Sec. 1.42- 6(d)(4)(ii) relating to the requirement that state and local housing agencies file Schedule A (Form 8610), ``Carryover Allocation of the Low- Income Housing Credit,'' is applicable for carryover allocations made after December 31, 1999. [T.D. 8520, 59 FR 10074, Mar. 3, 1994; 59 FR 15501, Apr. 1, 1994, as amended by T.D. 8859, 65 FR 2328, Jan. 14, 2000]