§1.1394-1 Enterprise zone facility bonds.

(a) Scope.

(b) Period of compliance.

(1) In general.

(2) Compliance after an issue is retired.

(3) Deemed compliance.

(c) Special rules for requirements of sections 1397B and 1397C.

(1) Start of compliance period.

(2) Compliance period for certain prohibited activities.

(3) Minimum compliance period.

(4) Initial testing date.

(d) Testing on an average basis.

(e) Resident employee requirements.

(1) Determination of employee status.

(2) Employee treated as zone resident.

(3) Resident employee percentage.

(f) Application to pooled financing bond and loan recycling programs.

(g) Limitation on amount of bonds.

(1) Determination of outstanding amount.

(2) Pooled financing bond programs.

(h) Original use requirement for purposes of qualified zone property.

(i) Land.

(j) Principal user.

(1) In general.

(2) Rental of real property.

(3) Pooled financing bond program.

(k) Treatment as separately incorporated business.

(l) Substantially all.

(m) Application of sections 142 and 146 through 150.

(1) In general.

(2) Maturity limitation.

(3) Volume cap.

(4) Remedial actions.

(n) Continuing compliance and change of use penalties.

(1) In general.

(2) Coordination with deemed compliance provisions.

(3) Application to pooled financing bond and loan recycling programs.

(4) Section 150(b)(4) inapplicable.

(o) Refunding bonds.

(1) In general.

(2) Maturity limitation.

(p) Examples.

(q) Effective dates.

(1) In general.

(2) Elective retroactive application in whole.