2008 section 45K inflation adjustment factor. This notice announces the inflation adjustment factor, the reference price, and the credit amount for the nonconventional source fuel credit for coke or coke gas (other than from petroleum based products) for the 2008 calendar year.

This notice solicits applications for allocations of the present total national bond volume limitation authority of $2.4 billion to issue new clean renewable energy bonds (New CREBs) under section 54C(a) of the Code to finance certain qualified projects described in section 45(d). This notice also provides related guidance on the following: (1) eligibility requirements that a project must meet to be considered for a volume cap allocation; (2) application requirements and the application form for requests for volume cap allocations; (3) the method that the IRS will use to allocate the volume cap; and (4) certain aspects of the applicable law and interim guidance in this area.

This notice provides the face amount of qualified school construction bonds (QSCBs) allocated by the Department of the Treasury to each state and large local education agency for 2009 under section 54F(d) of the Code. This notice also provides other limited interim guidance with respect to QSCBs.

This notice states that pursuant to the administration’s Home Affordable Modification Program (HAMP), the United States Government may make certain payments to a real estate mortgage investment conduit (REMIC). It also states that if those payments are “ contributions” subject to the 100 percent contribution tax set forth in section 860G(d)(1) of the Code and if none of the exceptions set forth in section 860G(d)(2) apply, then regulations will be issued that will provide an exception for such payments pursuant to section 860G(d)(2)(E).

This procedure describes the conditions under which modifications to residential mortgage loans pursuant to the administration’s Home Affordable Modification Program (HAMP) will not cause the IRS to challenge the tax status of real estate mortgage investment conducts (REMICs) or fixed investment trusts or to assert that those modifications to mortgages held by a REMIC give rise to a prohibited transaction.

Automobile owners and lessees. This procedure provides owners and lessees of passenger automobiles (including trucks and vans) with tables detailing the limitations on depreciation deductions for passenger automobiles first placed in service during calendar year 2009 and the amounts to be included in income for passenger automobiles first leased during calendar year 2009.

This notice extends the time for making claims pertaining to biodiesel and biodiesel mixtures that was certified under the old ASTM D6751 standard from April 1, 2009, set forth in Notice 2008-110, 2008-51 I.R.B. 1298, to September 30, 2009. Notice 2008-110 modified.