Par. 8. Section 1.150-4 under the heading ``Standard deduction for individuals'' is added to read as follows:
(a) In general. The change of use provisions of sections 150(b) and (c) apply even if the issuer takes the actions described in Sec. 1.141- 13(b), (c), (d), or (e).
(b) Allocation rules. If section 150(b) or (c) applies to a portion of an issue and the issuer has not taken a permitted remedial action under Sec. 1.141-13 to maintain the status of the bonds as tax-exempt bonds, the portion of the issue to which section 150(b) applies is that portion that is the nonqualified bonds, within the meaning of Sec. 1.141-13(g)(1), except that any common areas (as defined in Sec. 1.141-1) are entirely allocated to the nonqualified bonds.
(c) Effective dates. For effective dates of this section, see Sec. 1.141-16.