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IRS Allocates Additional $8.2 Million in Unused LIHTCs to 28 States

Monday, April 8, 2024 - 10:57AM

The Internal Revenue Service (IRS) will allocate an additional $8.2 million in unused federal low-income housing tax credit (LIHTC) carryovers to 28 states, ranging from $1.1 million to Texas to $24,409 to Vermont. Revenue Procedure 2024-18 supplements Rev. Proc. 2023-32, released in October 2023, which initially announced an allocation of $3.2 million in unused LIHTCs. The national demand for the LIHTC is robust and unused authority sometimes results from states having too little remaining LIHTC authority to be allocated to an affordable housing property.

Learn more about LIHTCs at the Novogradac 2024 Affordable Housing Conference May 2-3 at the Grand Hyatt in San Francisco.

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