(a) Benefits under this part will not be available to persons or entities whose average adjusted gross income exceeds $900,000 for the 3 taxable years preceding the most immediately preceding complete taxable year, or who otherwise do not meet the AGI requirements specified in part 1400 of this chapter.

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(b) The limit specified in paragraph (a) of this section may be waived in accordance with part 1400, subpart F, of this chapter.