IRS Lists Unused Housing Credit Carryovers for 2020
Rev. Proc. 2020-42; 2020-41 IRB 891
- Institutional AuthorsInternal Revenue Service
- Code Sections
- Subject Area/Tax Topics
- Jurisdictions
- Tax Analysts Document Number2020-38931
- Tax Analysts Electronic Citation2020 TNTF 192-342020 TPR 41-12
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 2020.
SECTION 2. BACKGROUND
Rev. Proc. 2019-45, 2019-48 I.R.B. 524, 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 5.04 of Rev. Proc. 2019-45 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 2020.
SECTION 3. PROCEDURE
The unused housing credit carryover amount allocated from the National Pool by the Secretary to each qualified state for calendar year 2020 is as follows:
Qualified State | Amount Allocated |
---|---|
Alabama | 58,538 |
Arizona | 86,900 |
California | 471,731 |
Connecticut | 42,565 |
Delaware | 11,626 |
Florida | 256,420 |
Georgia | 126,760 |
Idaho | 21,336 |
Illinois | 151,287 |
Kentucky | 53,339 |
Maine | 16,048 |
Maryland | 72,179 |
Massachusetts | 82,289 |
Michigan | 119,232 |
Minnesota | 67,331 |
Missouri | 73,274 |
Montana | 12,760 |
Nebraska | 23,095 |
New Jersey | 106,043 |
New Mexico | 25,034 |
New York | 232,253 |
North Carolina | 125,216 |
North Dakota | 9,098 |
Oklahoma | 47,242 |
Pennsylvania | 152,841 |
Rhode Island | 12,648 |
South Dakota | 10,562 |
Texas | 346,178 |
Vermont | 7,450 |
Virginia | 101,904 |
Washington | 90,913 |
West Virginia | 21,396 |
Wisconsin | 69,513 |
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 2020.
DRAFTING INFORMATION
The principal author of this revenue procedure is YoungNa Lee of the Office of Associate Chief Counsel (Passthroughs and Special Industries). For further information regarding this revenue procedure, contact Ms. Lee at (202) 317-4137 (not a toll-free number).
- Institutional AuthorsInternal Revenue Service
- Code Sections
- Subject Area/Tax Topics
- Jurisdictions
- Tax Analysts Document Number2020-38931
- Tax Analysts Electronic Citation2020 TNTF 192-342020 TPR 41-12