We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
Home » IRS Distributes Unused 2022 LIHTC Allocation
IRS Distributes Unused 2022 LIHTC Allocation
Oct 31, 2022
The IRS recently published the amounts of unused low-income housing tax credit carryovers for calendar year 2022. The carryover allocation is made up of LIHTCs that are not allocated by states but are added to a national pool and redistributed to qualified states that apply for the additional credits. Revenue Procedure 2022-37 details how $5.4 million of unused LIHTCs were divided among the eligible states in the national pool.
This year’s unused LIHTC allocation is less than the amount for calendar year 2021. Last year, the IRS allocated nearly $7.8 million. At the time, the large amount was presumed to be due to the COVID-19 pandemic. This year, the IRS will allocate more than $5.4 million of unused LIHTCs to 27 states, with California receiving the largest allocation of $982,548. The following table lists each state that received an allocation of the unused LIHTCs.
2022 National Pool Allocation
Qualified State $ Amt. Allocated
Alabama 126,203
California 982,548
Connecticut 90,287
Delaware 25,126
Florida 545,418
Georgia 270,430
Illinois 317,304
Indiana 170,428
Maine 34,362
Massachusetts 174,903
Michigan 251,681
Minnesota 142,918
Missouri 154,457
Montana 27,652
Nebraska 49,172
New Mexico 52,983
New York 496,708
North Carolina 264,210
Ohio 294,981
Oregon 106,327
Pennsylvania 324,631
Rhode Island 27,435
South Dakota 22,421
Vermont 16,166
Virginia 216,410
Washington 193,783
West Virginia 44,647
Related Articles
