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This Year’s National LIHTC Pool Shallower than 2011
The Internal Revenue Service (IRS) this week published the amounts of unused low-income housing tax credit (LIHTC) carryovers for calendar year 2012 that were allocated to 34 qualified states and Puerto Rico.
Revenue Procedure 2012-42 details how nearly $2.43 million of unused LIHTCs were divided among the states and territories in the national pool. California received the largest allocation, $364,494 in LIHTCs. This is a decrease from calendar year 2011 when nearly $3.66 million of unused LIHTCs were divided among 28 qualified states. California received the largest allocation that year as well with $570,425 in LIHTCs.
With the exception of 2010, when there was unused LIHTC carryover amount to be allocated to qualified states because there was no national pool amount from which LIHTCs could be redistributed, the national pool total has ranged between $2.4 and $6.4 million a year for the past 10 years.