[Federal Register Volume 67, Number 19 (Tuesday, January 29, 2002)]
[Proposed Rules]
[Page 4218]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-2155]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-142299-01 and REG-209135-88]
RIN 1545-BA36 and 1545-AW92


Certain Transfers of Property to Regulated Investment Companies 
and Real Estate Investment Trusts; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice of proposed rulemaking by cross-reference to temporary 
regulations.

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SUMMARY: This document contains corrections to REG-142299-01 and REG-
209135-88 that was published in the Federal Register on January 2, 2002 
(67 FR 48). These regulations apply to certain transactions or events 
that result in a Regulated Investment Company [RIC] or Real Estate 
Investment Trust [REIT] owning property that has a basis determined by 
reference to a C corporation's basis in the property.

DATES: This correction is effective January 2, 2002.

FOR FURTHER INFORMATION CONTACT: Lisa A. Fuller (202) 622-7750 (not a 
toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The notice of proposed rulemaking that is the subject of these 
corrections is under section 337(d) of the Internal Revenue Code.

Need for Correction

    As published, REG-142299-01 and REG 209135-88 contains errors that 
may prove to be misleading and are in need of clarification.

Correction of Publication

    Accordingly, the publication REG-142299-01 and REG-209135-88, which 
is the subject of FR. Doc. 01-31968, is corrected as follows:
    1. On page 49, column 2, in the preamble under the paragraph 
heading ``Background'', lines 14 and 15, the language ``property to a 
RIC or REIT, then the RIC or REIT will be subject either to section'', 
is corrected to read ``property to a RIC or REIT, then either the RIC 
or REIT will be subject to section''.

LaNita Van Dyke,
Acting Chief, Regulations Unit, Associate Chief Counsel (Income Tax and 
Accounting).
[FR Doc. 02-2155 Filed 1-28-02; 8:45 am]
BILLING CODE 4830-01-P