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Rev. Proc. 2022-37


(back to all Revenue Procedures, or view IRB 2022-43)


Rev. Proc. 2022-37

SECTION 1. PURPOSE

This revenue procedure publishes the amounts of unused housing credit carryovers 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:

Qualified State Amount 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
 

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).

Section 42—Low-Income Housing Credit.

26 CFR 1.42-14. Allocation rules for post-1989 State housing credit ceiling amounts.

Guidance is provided to state housing credit agencies of qualified states that request an allocation of unused housing credit carryover under section 42(h)(3)(D) of the Internal Revenue Code. See Rev. Proc. 2022-37


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