IRS Lists Unused Housing Credit Carryovers for 2022

26 CFR 601.105: Examination of returns and claims for refund, credit, or abatement; determination of correct tax liability.

(Also: Part I, §§ 6011, 6662, 6662A, 6707A; 1-6011-4.)

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 2022.

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). 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) is published by the Internal Revenue Service in the Internal Revenue Bulletin. This revenue procedure publishes these amounts for calendar year 2022.

SECTION 3. PROCEDURE

The unused housing credit carryover amount allocated from the National Pool by the Secretary to each qualified state for calendar year 2022 is as follows:

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 2022.

DRAFTING INFORMATION

The principal author of this revenue procedure is YoungNa Lee, formerly at Office of Associate Chief Counsel (Passthroughs and Special Industries). For further information regarding this revenue procedure, contact James A. Holmes at (202) 317-4137 (not a toll-free number).