(1) In general.
If a change in use of a portion of the property financed with an issue of qualified private activity bonds causes section 150(b)(3), (b)(4), or (b)(5) to apply to an issue, the bonds of the issue allocable to that portion under section 150(c)(3) are the same as the nonqualified bonds determined for purposes of sections 1.142-1, 1.144-1, and 1.145-1, except that bonds allocable to all common areas are also allocated to that portion.
(2) Special rule when remedial action is taken.
If an issuer takes a remedial action with respect to an issue of private activity bonds under sections 1.142-2, 1.144-2, or 1.145-2, the bonds of the issue allocable to a portion of property are the same as the nonqualified bonds determined for purposes of those sections.
1.150-4 (d) Effective dates.
For effective dates of this section, see section 1.141-16.
[T.D. 8712, 62 FR 2275-2305, Jan. 16, 1997.]