Rev. Proc. 85-6

SECTION 1. BACKGROUND

Rev. Proc. 84-22, 1984-1 C.B. 449, sets forth areas in which advance rulings or determination letters will not be issued by the Internal Revenue Service. Section 4 of Rev. Proc. 84-22 is entitled `Areas in Which Rulings or Determination Letters Will Not Ordinarily Be Issued.

SECTION 2. PROCEDURE

Rev. Proc. 84-22 is amplified by adding to section 4.01 the following new section:

Section 103.-Interest on Certain Governmental Obligations.- Whether amounts received as proceeds from the sale of municipal bond financed property and pledged to the payment of debt service or pledged as collateral for the municipal bond issue are sinking fund proceeds within the meaning of section 1.103-13(g) of the Income Tax Regulations or replaced proceeds described in section 103(c)(2)(B) of the Internal Revenue Code.

SEC. 3. EFFECT ON OTHER REVENUE PROCEDURES

Rev. Proc. 84-22 is amplified.