# Certain Transfers of Property to Regulated Investment Companies and Real Estate Investment Trusts; Correction
**AGENCY:**
Internal Revenue Service (IRS), Treasury.
**ACTION:**
Notice of proposed rulemaking by cross-reference to temporary regulations.
**SUMMARY:**
This document contains corrections to REG-142299-01 and REG-209135-88 that was published in the *Federal Register* on January 2, 2002 (67 FR 48). These regulations apply to certain transactions or events that result in a Regulated Investment Company [RIC] or Real Estate Investment Trust [REIT] owning property that has a basis determined by reference to a C corporation's basis in the property.
**DATES:**
This correction is effective January 2, 2002.
**FOR FURTHER INFORMATION CONTACT:**
Lisa A. Fuller (202) 622-7750 (not a toll-free number).
**SUPPLEMENTARY INFORMATION:**
**Background**
The notice of proposed rulemaking that is the subject of these corrections is under section 337(d) of the Internal Revenue Code.
**Need for Correction**
As published, REG-142299-01 and REG 209135-88 contains errors that may prove to be misleading and are in need of clarification.
**Correction of Publication**
Accordingly, the publication REG-142299-01 and REG-209135-88, which is the subject of FR. Doc. 01-31968, is corrected as follows:
1. On page 49, column 2, in the preamble under the paragraph heading “ *Background* ”, lines 14 and 15, the language “property to a RIC or REIT, then the RIC or REIT will be subject either to section”, is corrected to read “property to a RIC or REIT, then either the RIC or REIT will be subject to section”.
LaNita Van Dyke,
Acting Chief, Regulations Unit, Associate Chief Counsel (Income Tax and Accounting).