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IRS Publishes Amounts of Unused Credit Carryovers

Monday, August 25, 2003 - 1:45AM

The Internal Revenue Service (IRS) today published the amounts of unused housing credit carryovers allocated to 27 qualified states under §42(h)(3)(D) of the Internal Revenue Code for calendar year 2003 in Revenue Procedure 2003-67. The 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 2003. New figures for the unused credit dollar amounts are released annually by IRS under Rev. Proc. 92-31, which provides guidance to state housing credit agencies of qualified states on the procedure for requesting allocation of unused housing credit carryover under §42(h)(3)(D). Click here for a copy of Rev. Proc. 2003-67.

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