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grandfathering

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grandfathering
An alteration of the rules that apply to a certain investment or investment technique while stipulating that investment actions taken before a certain date remain subject to the old rules. For example, Congress may change the law by stipulating that certain types of municipal bonds no longer pay tax-free interest while at the same time grandfathering the municipal bonds issued before the date on which the new law is to take effect.
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? Mentioned in ? References in periodicals archive
 
2601-1(b) (1)(i) was a reasonable interpretation of the grandfathering provision contained in Section 1433 (b)(2)(A) of the Tax Reform Act of 1986 (TRA '86).
TC upholds GSTT Regs by Ransome, Justin / The Tax Adviser
The fourth edition of the UAA also extends the grandfathering provision: All CPAs licensed as of the date a jurisdiction receives its notice of substantial equivalency from NQAS are eligible to use the substantial equivalency provision for interstate practice.
Substantial equivalency: practice privileges: the 55 U.S. CPA ... by Rydholm, Andreas / Journal of Accountancy
This 'transmission' role is confirmed by Waldrop et al's (1999) report on grandfathering.
Aging and family policy: a sociological excursion by Powell, Jason L. / Journal of Sociology & Social Welfare
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