Rev. Proc. 83-68

SECTION 1. BACKGROUND

Rev. Proc. 83-22, 1983-1 C.B. 680, sets forth areas in which advance rulings or determination letters will not be issued by the Internal Revenue Service. Section 5 of Rev. Proc. 83-22 is entitled, Areas Under Extensive Study in Which Rulings or Determination Letters Will Not Be Issued Until the Service Resolves the Issue Through Publication of a Revenue Ruling, Revenue Procedure, Regulations or Otherwise.

SEC. 2. PROCEDURES

Rev. Proc. 83-22 is hereby amended by adding to section 5 the following area:

Sections 38, 46, and 48 - Investment Tax Credit-Application of these sections where any use of vessels is transferred to an agency or department of the United States government under an agreement designated as a time charter or service agreement.

SEC. 3. EFFECTIVE DATE

This revenue procedure will apply to all the ruling requests currently on hand in the National Office on September 19, 1983, the date of publication of this revenue procedure in the Internal Revenue Bulletin, as well as to the requests received thereafter.

SEC. 4. EFFECT ON OTHER REVENUE PROCEDURES

Rev. Proc. 83-22 is amplified.