IRS Lists Unused Housing Credit Carryovers for 2018
Rev. Proc. 2018-55; 2018-47 IRB 775
- Institutional AuthorsInternal Revenue Service
- Code Sections
- Subject Area/Tax Topics
- Jurisdictions
- Tax Analysts Document Number2018-45472
- Tax Analysts Electronic Citation2018 TNT 224-252018 TPR 48-7
26 CFR 601.105
SECTION 1. PURPOSE
This revenue procedure publishes the amounts of unused housing credit carry-overs allocated to qualified states under § 42(h)(3)(D) of the Internal Revenue Code for calendar year 2018.
SECTION 2. BACKGROUND
Rev. Proc. 92–31, 1992-1 C.B. 775, provides guidance to state housing credit agencies of qualified states on the procedure for requesting an allocation of unused housing credit carryovers under § 42(h)(3)(D). Section 4.06 of Rev. Proc. 92-31 provides that the Internal Revenue Service will publish in the Internal Revenue Bulletin the amount of unused housing credit carryovers allocated to qualified states for a calendar year from a national pool of unused credit authority (the National Pool). This revenue procedure publishes these amounts for calendar year 2018.
SECTION 3. PROCEDURE
The unused housing credit carryover amount allocated from the National Pool by the Secretary to each qualified state for calendar year 2018 is as follows:
Qualified State | Amount Allocated |
---|---|
Alabama | 49,984 |
California | 405,396 |
Connecticut | 36,792 |
Delaware | 9,863 |
Florida | 215,167 |
Georgia | 106,939 |
Idaho | 17,605 |
Illinois | 131,268 |
Indiana | 68,359 |
Kentucky | 45,672 |
Maine | 13,698 |
Maryland | 62,057 |
Massachusetts | 70,338 |
Michigan | 102,150 |
Minnesota | 57,181 |
Missouri | 62,686 |
Montana | 10,771 |
Nebraska | 19,688 |
New Mexico | 21,410 |
New York | 203,529 |
North Carolina | 105,340 |
Ohio | 119,544 |
Pennsylvania | 131,304 |
Puerto Rico | 34,218 |
Rhode Island | 10,865 |
South Dakota | 8,917 |
Texas | 290,226 |
Utah | 31,805 |
Vermont | 6,395 |
Virginia | 86,849 |
Washington | 75,936 |
West Virginia | 18,619 |
Wisconsin | 59,425 |
EFFECTIVE DATE
This revenue procedure is effective for allocations of housing credit dollar amounts attributable to the National Pool component of a qualified state's housing credit ceiling for calendar year 2018.
DRAFTING INFORMATION
The principal author of this revenue procedure is James A. Holmes of the Office of Associate Chief Counsel (Pass-throughs and Special Industries). For further information regarding this revenue procedure, contact Mr. Holmes at (202) 317-4137 (not a toll-free number).
- Institutional AuthorsInternal Revenue Service
- Code Sections
- Subject Area/Tax Topics
- Jurisdictions
- Tax Analysts Document Number2018-45472
- Tax Analysts Electronic Citation2018 TNT 224-252018 TPR 48-7