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IRS Allocates more than $3.2 Million in Unused LIHTCs to 28 States

Monday, October 9, 2023 - 9:15AM

The Internal Revenue Service (IRS) will allocate more than $3.2 million in unused federal low-income housing tax credits (LIHTCs) to 28 states–ranging from $450,249 to Texas to $9,702 to Vermont. Revenue Procedure 2023-32, released today, lists the states and amounts. This is the second straight year with a decline in reallocated LIHTCs, following $7.8 million in 2021 and $5.4 million in 2022. 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.

Stay updated on financing options for LIHTC-financed properties at the Novogradac 2023 Housing Tax Credit Finance Conference, Nov. 30-Dec. 1 in Las Vegas.

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