### Question
Can you define what startup day means?


### Answer
**Startup day** is defined as the following in *26 U.S.C. § 860L*:

> the date designated in the election under subsection (a)(3) as the startup day of the FASIT

#### Citation:
  - *26 U.S.C. § 860L*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter M-Regulated Investment Companies and Real Estate Investment Trusts > PART V-FINANCIAL ASSET SECURITIZATION INVESTMENT TRUSTS**

